Schroder Special Situations Fund Fixed Maturity Bond V A Distribution USD

Objectives The fund aims to provide income over a fixed four year period by investing in USD-denominated bonds issued by companies, governments, government agencies, and supra-nationals worldwide. The income distribution is based on the yield to maturity of the fixed income securities within the portfolio. Investment policy The fund invests its assets for a fixed four year period. The fund is actively managed and invests at least two-thirds of its assets in USD-denominated bonds issued by companies, governments, government agencies and supranationals worldwide, including in emerging markets, with a maturity date within the fixed period. The fund may invest up to 50% of its assets in sub-investment grade bonds (as measured by Standard & Poor's or any equivalent grade of other credit rating agencies) while also aiming to achieve an average credit rating of investment grade. The fund may invest up to 20% of its assets in asset-backed securities and mortgage-backed securities. The fund may also invest up to one-third of its assets directly or indirectly in other securities (including other asset classes), countries, regions, industries or currencies, investment funds, warrants and money market investments, and hold cash. The fund may use derivatives with the aim of reducing risk or managing the Fund more efficiently. After these investments mature (or are sold) the fund will be authorised to hold up to 100% of its assets in deposits, cash and money market investments until it is liquidated. Whilst it is intended that the fund will hold securities until maturity, the investment manager has the discretion to sell them prior to their maturity. The fund is categorised as “Specialist Bond Fund”. The fund is designed to be held to maturity and investors should be prepared to remain invested until the fund is liquidated (exact date to be determined by the Directors). Investors should be aware that the net asset value of the shares at the end of the investment period or thereafter may be less than the net asset value at the time of the original investment as a consequence of the fund's distribution policy or market movements. Benchmark The fund's performance should be assessed by measuring the absolute performance of the fund over the fixed period for which the fund is created as stated in the fund's investment objective and investment policy. Dealing frequency You may redeem your investment upon demand. This fund deals daily. Distribution policy This share class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the share class.