Schroder International Selection Fund AAA Flexible ABS X1 Accumulation GBP

Objectives The fund aims to generate income in excess of the ICE BofA Sterling 3-Month Government Bill Index +1% per annum before fees have been deducted* over a five to seven year period by investing in AAA rated asset-backed securities issued by entities worldwide and fixed or floating rate securities issued by the governments of the US or the UK. * For the target return after fees for each Share Class please visit the Schroder webpage https://www.schroders.com/en-lu/lu/individual/funds-and-strategie s/fund-administration/performance-targets-after-fees/ Investment policy The fund is actively managed and invests at least 80% of its assets in in (i) AAA rated fixed and floating rate asset-backed securities (ABS) issued worldwide or (ii) fixed or floating rate securities issued by the governments of the US or UK, including government-guaranteed agency mortgage-backed securities. The fund allocates flexibly across ABS investments, which may include residential mortgage-backed securities (RMBS), commercial mortgage backed securities (CMBS), collateralised loan obligations (CLOs) and credit risk transfer securities (CRTs). Other underlying assets of the ABS may also include, but are not limited to, credit card receivables, personal loans, auto loans, transportation finance and small business loans. The fund may invest up to 100% of its assets in CLOs. The fund is actively managed and invests at least 80% of its assets in in (i) AAA rated fixed and floating rate asset-backed securities (ABS) issued worldwide or (ii) fixed or floating rate securities issued by the governments of the US or UK, including government-guaranteed agency mortgage-backed securities. The fund allocates flexibly across ABS investments, which may include residential mortgage-backed securities (RMBS), commercial mortgage backed securities (CMBS), collateralised loan obligations (CLOs) and credit risk transfer securities (CRTs). Other underlying assets of the ABS may also include, but are not limited to, credit card receivables, personal loans, auto loans, transportation finance and small business loans. The fund may invest up to 100% of its assets in CLOs. The fund will only invest in assets rated AA- or higher (as measured by Standard & Poor's or any equivalent grade of other credit rating agencies for rated securities and implied Schroders ratings for non-rated securities). The fund may also invest its assets directly or indirectly in other securities (including other asset classes), countries, regions, industries or currencies, investment funds, warrants and money market instruments, and hold cash (subject to the restrictions provided in appendix I of the fund's prospectus). The investment manager assesses the sustainability credentials of potential investments using a proprietary tool. The fund only invests in assets deemed above a minimum threshold based on the investment manager's rating system. The fund does not directly invest in certain activities, industries or groups of issuers above the limits listed under “Sustainability-Related Disclosure” on the fund's webpage https://www.sch