NYLI GF US High Yield Corporate Bonds IQGBPH

Principal assets traded: Bonds, other debt securities and money market instruments denominated in USD and issued by private sector issuers rated below BBB- from one of the rating agencies at the time of acquisition, or unrated but considered of comparable quality (i.e. issuers considered as highly risky). Investment strategy: The fund seeks maximum current income through investment in a diversified portfolio of high-yield debt securities and to outperform the benchmark. The Fund seeks to identify investment opportunities by analyzing individual companies and evaluating each company's competitive position, financial condition and business prospects. In times of unusual or adverse market, economic or political conditions, the sub-fund may temporarily invest mainly or entirely in investment grade debt securities and other high quality money market instruments. The Fund does not have a sustainable investment objective and does not specifically promote environmental and/or social characteristics. This share class aims to reduce the effect of fluctuations in exchange rates between the reference currency of the sub-fund USD and the GBP (the currency in which the share class is denominated). This reduces the foreign exchange risk but does not eliminate it entirely. The fund may use derivative products both for investment and hedging purposes (hedging against unfavourable future financial events). Benchmark: ICE BofA US High Yield Constrained Index (Total Return) The fund is actively managed and the investment approach implies a reference to a benchmark. Benchmark definition: The index measures the performance of USD-denominated corporate bonds below investment grade issued in the US domestic market with issuer exposure capped at 2%. Use of the benchmark: - as investment universe. In general, the majority of the issuers of the fund’s financial instruments are part of the benchmark. This said, investments outside this benchmark are admitted; - in the determination of risk levels / parameters ; - for performance comparison. Deviation level of the portfolio composition from the benchmark: The fund being managed actively, its objective is not to invest in all constituents of the benchmark, nor to invest to the same extent in the constituents of the benchmark. Under normal market conditions, the tracking error of the fund will be moderate to important this is comprised between 0.75% and 3%. This measure is an estimation of the deviation of the fund’s performance compared to the performance of the benchmark. The more the tracking error is important, the more deviations compared to the benchmark are important. The effective tracking error depends notably on the market conditions (volatility and correlations between financial instruments) and can deviate from the expected tracking error. Redemption of shares: On request, every day, in Luxembourg. Allocation of income: Distribution. Recommendation: This fund may not be suitable for investors who plan to withdraw their capital within 3 years.