Allianz Global High Yield AMg (H2

Long-term capital growth by investing in high yield rated Debt Securities of global Bond Markets in accordance with the Sustainability Key Performance Indicator Strategy (Relative) (“KPI Strategy (Relative)”). In this context, the aim is to outperform the Sub-Fund’s Sustainability KPI compared to Sub-Fund’s Benchmark to achieve the investment objective. We manage this Sub-Fund in reference to a Benchmark. Sub-Fund's Benchmark plays a role for the Sub-Fund’s performance objectives and measures. We follow an active management approach with the aim to outperform the Benchmark. Although our deviation from the investment universe, weightings and risk characteristics of the Benchmark is likely to be material in our own discretion, the majority of the Sub-Fund's investments (excluding derivatives) may consist of components of the Benchmark. The Sub-Fund follows the KPI Strategy (Relative) and promotes responsible investments by applying an investment objective related to one sustainability key performance indicator (“Sustainability KPI”) to provide transparency on the measurable sustainability outcome pursued by the Sub-Fund’s Investment Manager for the shareholders. Minimum exclusion criteria for direct investments are applied. Min. 70% Sub-Fund assets are invested in High-Yield bonds bearing a typically higher risk and higher potential of gains as described in the investment objective. We may also invest in High-Yield bonds which are only rated CC, C or D (Standard & Poor's). Max. 30% of Sub-Fund assets may be invested in bonds other than described in the investment objective. KPI Strategy (Relative) (including exclusion criteria) applies. Sub-Fund's Sustainbility KPI is the "Weighted Average GHG Intensity (Sales)" which is the weighted average of the Sub-Fund’s GHG intensity (in tCO2e per Millions of sales). Sub-Fund’s investment objective shall be achieved by a minimum outperformance of 20% of the Weighted Average GHG Intensity (Sales) of Sub-Fund's portfolio compared to the Weighted Average GHG Intensity (Sales) of Sub-Fund’s Benchmark. Sub- Fund assets may be completely invested in Emerging Markets. Sub-Fund assets may be invested in future-contracts on global equity indices (equity index futures) for both, efficient portfolio management and hedging purposes, but must not own at any time a net long position on equity indices. Max. 10% of Sub- Fund assets may be invested in UCITS/UCI. Max. 100% Sub-Fund assets may be held in deposits and/or may be invested directly in Money Market Instruments and/or (up to 10% of Sub-Fund assets) in money market funds on a temporary basis for liquidity management and/or defensive purpose. Max. 10% non-USD Currency Exposure. Min. 80% of Sub-Fund’s portfolio shall be evaluated by the “Weighted Average GHG Intensity (Sales). Portfolio in this respect does not comprise derivatives and instruments that are non-evaluated by nature (e.g., cash and Deposits). Exposure to the base currency of the fund (USD) will be hedged to a large extent against the reference currency of the shareclass (SGD) which reduces the potential risks and limits potential gains from exchange rate movements. Benchmark: ICE BOFAML Global High Yield Constrained (hedged into SDG). You may redeem shares of the fund usually on each business day. We usually distribute the income of the fund on a monthly basis. Recommended Holding Period: 4 Years Derivatives may be used to offset exposure to price fluctuations (hedging), to take advantage of price differences between two or more markets (arbitrage) or to multiply gains although it may also multiply losses (leverage). SFDR Category – Article 8 (a financial product which promotes, amongst other characteristics, environmental or social characteristics, provided that the companies in which the investments are made follow good governance practices)