Schroder International Selection Fund Global Credit High Income A Accumulation SEK Hedged

The fund is actively managed and invests at least two-thirds of its assets in investment grade and high yield bonds issued by governments, government agencies, supra-nationals and companies worldwide, including emerging market countries. The fund may invest: – in excess of 50% of its assets in bonds that have a below investment grade credit rating (as measured by Standard & Poor's or any equivalent grade of other credit rating agencies for rated bonds and implied Schroders ratings for non-rated bonds); – up to 20% of its assets in asset-backed securities and mortgage-backed securities; – up to 10% of its assets in convertible bonds (including contingent convertible bonds); – up to 10% of its assets in open-ended investment funds; and – in money market investments and hold cash. The investment manager aims to mitigate losses by diversifying the fund's asset allocation away from areas of the market identified as having a high risk of material negative return. 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, and warrants (subject to the restrictions provided in the prospectus). The fund may use derivatives with the aim of achieving investment gains, reducing risk or managing the fund more efficiently. Benchmark The fund does not have a target benchmark. The fund's performance should be compared against the Bloomberg Multiverse ex Treasury BBB to CCC USD, EUR, GBP index, the Bloomberg Global High Yield USD index, and the JP Morgan EMBI Global Total Return index. The comparator benchmarks are only included for performance comparison purposes and do not have any bearing on how the investment manager invests the fund's assets. The fund's investment universe is expected to overlap to a limited extent with the components of the comparator benchmarks. However, the fund will likely reflect certain features of the comparator benchmark (namely credit quality/ duration, currency exposure/ exposure to particular issuers). The investment manager invests on a discretionary basis and there are no restrictions on the extent to which the fund's portfolio and performance may deviate from the comparator benchmarks. The investment manager will invest in companies or sectors not included in the comparator benchmarks. Any comparator benchmark has been selected because the investment manager believes that the benchmark is a suitable comparison for performance purposes given the fund's investment objective and policy. The benchmark(s) does/do not take into account the environmental and social characteristics or sustainable objective (as relevant) of the fund. The performance of this share class is compared against the performance of the equivalent unhedged currency share class. Other Information The fund maintains a higher overall sustainability score than the Bloomberg Multiverse ex Treasury BBB+ to CCC+ USD, EUR, GBP index based on the investment manager's rating criteria. 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.schroders.com/en/lu/private-investor/gfc. 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.