ANIMA PRIMA FUNDS PLC FIRST ADDENDUM TO ... - ANIMA Sgr

an instrument’s rating) and (iii) non-emerging markets and non-convertibles but having a rating of below
investment grade, will not exceed 30% of net assets.
Instruments purchased by the Fund may be denominated in any currencies. As the aim of the Fund is to
provide a return in Euro, exposure to non-Euro currencies will generally be hedged. Accordingly, the
Fund will maintain a low exposure to non-Euro denominated currencies.
The Fund will be authorised to invest up to 100% of its assets in transferable securities, consistent with
the Fund's investment policy above, issued or guaranteed by any of the entities referred to in paragraph
2.12 of Appendix I. Such transferable securities, which may be Euro Debt Instruments, Non-Euro Debt
Instruments and Euro Money Market Instruments, will not embed derivatives, and no additional leverage
will arise from investment in these transferable securities.
After the Subscription Period until the Maturity Date
The objective of the Fund is to provide an attractive rate of return over the period up to the Maturity Date.
It is intended to seek to achieve this objective through investment on a global basis mainly in a diversified
portfolio consisting of Euro Money Market instruments, Euro Debt Instruments and Non-Euro Debt
Instruments, in each case listed or traded on a Recognised Exchange, with particular focus on investment
in a diversified portfolio both of government and corporate debt securities of both investment grade and
high yield.
The Fund may invest up to 100% of net assets in Euro Money Market Instruments and/or Euro Debt
Instruments and/or Non-Euro Debt Instruments, in each case being of investment grade or better or, if unrated,
being, in the opinion of the Investment Manager, of comparable quality. Subsequent to its purchase
by the Fund, a security may cease to be rated or its rating may be reduced below investment grade. The
Fund may invest up to 30% of its net assets in securities/instruments of below investment grade. Where
an instrument ceases to be rated or its rating is reduced to below investment grade, the Investment
Manager will consider such event in determining whether the Fund should continue to hold the security.
It is intended that the Euro Debt Instruments and Non-Euro Debt Instruments to be held by the Fund will
have a maximum maturity consistent with the Maturity Date, decreasing to near zero as the Maturity Date
approaches.
Once identified as having an appropriate maturity and having established that they are likely to be
sufficiently stable and liquid to allow the Fund to meet its objective, all Euro Debt Instruments and Non-
Euro Debt Instruments will be subjected to a macro-economic analysis involving assessment of the
European Central Bank policy statements and generally recognized economic indicators of the world
economy. The Investment Manager will also pay particular attention to the analysis of the financial and
credit reports of companies.
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