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

The Fund will never invest in emerging markets, nor will it invest in equities or equity related securities.
During the Subscription Period
During the Subscription Period, the objective of the Fund will be to seek to provide capital preservation
and appreciation. The Investment Manager will seek to achieve this objective through investment on a
global basis mainly in Euro Money Market Instruments and Euro Debt Instruments listed or traded on a
Recognised Exchange.
Such Euro Money Market Instruments and Euro Debt Instruments will be mainly of investment grade or
better at the time of investment or, if un-rated, will be, 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 reduced below investment grade. The Fund may invest up to 30% of its net assets in
securities/instruments of below investment grade or which are un-rated at the time of purchase. 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.
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.
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 Debt Instruments listed or traded on a Recognised Exchange with particular
focus on investment in a diversified portfolio of corporate debt securities both investment grade and partly
high yield.
Such Euro Money Market Instruments and Euro Debt Instruments will mainly be of investment grade or
better at the time of investment or, if un-rated, will be, 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 reduced below investment grade. The Fund may invest up to 30% of its net assets in
securities/instruments of below investment grade or which are un-rated at the time of purchase. 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 to be held by the Fund will have a maximum maturity
consistent with the end of the Maturity Period, 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 the Fund objective, all Euro Debt Instruments will
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