The investment team believes that high quality companies with strong market positions at reasonable valuations should lead to high returns on operating capital and resilience across market cycles. ESG analysis and active portfolio manager-led engagement are fundamental to the investment process.

The Fund seeks long-term capital appreciation by investing in high quality established and emerging companies located in Asia (excluding Japan) that the investment team believes are undervalued at the time of purchase. To achieve its objective, the investment team typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG).

We seek attractive long-term, risk-adjusted returns by investing in publicly traded real estate securities we believe offer the best value relative to their underlying assets and earnings. This dual focus for the identification of value allows us to appreciate the going concern valuation of the company as well as the liquidation value of the tangible property portfolio. We utilize proprietary research to assess both real estate specific factors and broader equity market factors, as well as Environmental, Social and Governance (ESG) factors to calculate appropriate valuation metrics. Top-down considerations are also incorporated into the portfolio construction process and the Team may integrate forecasted fundamental inflections, macroeconomic considerations, geopolitical and country risk assessments, among other factors.

The investment team employs an active, bottom up, fundamental investment approach to identify companies with sustainable business models that effectively manage their financially material ESG factors. Proprietary ESG insights are incorporated into the investment team’s fundamental assessment of the sustainability of each company’s business model. The Team recognises that behavioural biases are present in every investment team and have developed a proprietary approach towards minimising these biases, termed Portfolio Exercises, which are provocative, action-oriented, contrarian and creative. As active stewards of client capital, the Team look for opportunities to influence change and strengthen the sustainability of business models through engagement. Fund managers use a disciplined bottom-up, conviction led, risk aware and balanced approach to manage a concentrated portfolio.

Seeks to provide an attractive rate of relative return, measured in Euros, through investment in Euro denominated fixed income securities issued by corporations. The investment process of the Fund integrates the consideration of sustainability themes and ESG issues in its investment decision-making, utilizing a proprietary ESG research process that applies the Calvert Principles for Responsible Investment. In doing so, the Fund promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, in addition to accountable governance and transparent operations. The Fund is committed to maintaining a lower carbon intensity than the Bloomberg Euro Aggregate Corporate Bond Index and will aim to halve its carbon intensity by 2030, compared to end-2020.

Seeks to provide an attractive rate of relative return, measured in Euros, through investment in Euro denominated fixed income securities issued by corporations, governments or government guaranteed issuers. The investment process of the Fund integrates the consideration of sustainability themes and ESG issues in its investment decision-making, utilizing a proprietary ESG research process that applies the Calvert Principles for Responsible Investment. In doing so, the Fund promotes environmental sustainability and resource efficiency, equitable societies and respect for human rights, in addition to accountable governance and transparent operations. The Fund is committed to maintaining a lower carbon intensity for its corporate bond investments than the corporate bond component of the Bloomberg Euro Aggregate Index and will aim to halve its carbon intensity by 2030, compared to end-2020.

The investment team believes companies with a demonstrated history of consistent growth and stability in earnings provide attractive returns with moderate risk over the long-term. The team will invest in high quality companies that through business operations and practices exhibit sound management of ESG characteristics. Through an active, bottom-up fundamental investment approach, the fund managers construct a conviction-weighted portfolio of quality, sustainable, growth companies trading at or below their estimate of intrinsic value.

The Fund seeks long-term capital appreciation by investing primarily in high quality companies located or operating in developing or emerging market countries, with capitalizations within the range of companies in the MSCI Emerging Markets Net Index. To achieve its objective, the investment team typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG).

We focus on the future drivers of growth across the emerging markets in a way that is benchmark agnostic and seek the most compelling opportunities by building an actively managed, focused portfolio of companies positioned to benefit from these growth themes. The fund considers ESG criteria during the investment process to limit exposure to ESG risks.

Seeks to maximise total return, measured in U.S. dollars, primarily through investments across the credit spectrum of debt securities of corporate issuers, together with investing in debt securities of government and government related issuers located in emerging markets. The Fund intends to invest its assets in emerging market corporate debt securities that provide a high level of current income, while at the same time holding the potential for capital appreciation.

Seeks to maximise total return, measured in U.S. dollars, through investment in the debt securities of government and government-related issuers located in emerging countries.

We seek high total return from income and price appreciation by investing in a range of sovereign, quasi-sovereign and corporate debt securities in emerging markets, which may include U.S. dollar-denominated, local currency, and corporate debt securities. We believe that emerging markets experiencing positive fundamental change may present attractive investment opportunities for investors. To help achieve its objective, we combine top-down country allocation with bottom-up security selection.

The investment team applies its fundamental, country-level economic and political research process combined with valuation analysis across more than 100 countries in directing Fund investments. The Fund provides exposures to select currencies and local interest rates of emerging-market economies in a benchmark-aware fashion while including significant exposure to off-benchmark countries.

Seeks to provide an attractive rate of relative return, measured in Euro, through investment primarily in high quality issues of Euro denominated fixed income securities, issued by corporations and other non-government related issuers ('corporate bonds').

Seeks to provide an attractive rate of return, measured in Euro, while seeking to reduce the Fund’s exposure to market interest rate movements.

The fund seeks to maximize capital appreciation by investing primarily in high quality established and emerging companies located in Europe that the investment team believes are undervalued at the time of purchase. To achieve its objective, the investment team typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG).

Seeks to provide an attractive level of total return, measured in euros, by investing primarily in euro-denominated securities of corporate, government and government-related issuers, across a spectrum of fixed income asset classes, including high-yield bonds, investment-grade bonds, mortgage-backed securities, convertibles and currencies.

Seeks to provide an attractive rate of return, measured in euro, through investments worldwide primarily in lower rated and unrated fixed income securities issued by governments, agencies and corporations that offer a yield above that generally available on debt securities in the four highest rating categories of S&P or Moody's denominated in European currencies.

Seeks to provide an attractive rate of total return, measured in U.S. dollars, through investment primarily in fixed income securities that are mortgage-backed securities, commercial mortgage-backed securities, collateralized mortgage obligations and covered bonds that are covered by mortgages ('mortgage backed securities').

Seeks an attractive level of total return by managing a broad asset mix within a targeted risk range of 2-6%, which is subject to change. The fund invests primarily in equities, fixed income, commodity-linked investments and cash. Environmental, Social & Governance (ESG) factors may be considered in assessing potential return and contribution to portfolio risk.

Seeks an attractive level of total return by managing a broad asset mix within a targeted risk range of 4-10%, which is subject to change. The fund invests primarily in equities, fixed income, commodity-linked investments and cash. Environmental, Social & Governance (ESG) factors may be considered in assessing potential return and contribution to portfolio risk.

Seeks an attractive level of total return by managing a broad asset mix within a targeted risk range of 4-10%, which is subject to change. The fund invests primarily in equities, fixed income, commodity-linked investments and cash.  Environmental, Social & Governance (ESG) factors may be considered in assessing potential return and contribution to portfolio risk. Income is enhanced by the sale of put options on major equity indices.  Derivatives such as index futures are used for efficient portfolio management.

Seeks an attractive level of total return by managing a broad asset mix within a targeted risk range of 4-10%, expressed in terms of annualised volatility. The fund invests primarily in equity securities, fixed income securities, money market instruments and cash. Environmental, social and governance (ESG) factors are integrated into the investment process, through exclusions applied to the Fund’s equity and government bond investments, and by tilting the equity investments held directly by the Fund towards ESG and low carbon transition leaders. In addition, 5-30% of the fund’s assets will be invested with managers who explicitly aim to provide solutions across a number of positive environmental and social themes, alongside a financial return. The investment team engages with companies on ESG issues they deem material in terms of risk, return or impact.

Seeks to provide an attractive rate of return, measured in U.S. dollars, through market, instrument and currency selection. The Fund consists of domestic, international and euromarket fixed income securities of varying maturities denominated in U.S. dollars and other currencies, including emerging markets.

Built on the same high quality investment process as Global Brands, the Fund seeks to provide an attractive and steady income using a conservative overwrite alongside long-term compounding of capital. ESG analysis and active, portfolio manager-led engagement are fundamental to the investment process.

The investment team believes that high quality companies built on dominant market positions and underpinned by powerful intangible assets can generate attractive returns over the long term. ESG analysis and active, portfolio manager-led engagement are fundamental to the investment process.

Seeks long-term capital appreciation, measured in U.S. dollars, through investment primarily in convertible bonds issued by companies organised or operating in either the developed or emerging markets which will be denominated in global currencies.

Seeks to provide an attractive rate of relative return, measured in U.S. dollars, through investment primarily in high-quality issues of fixed income securities issued by corporations and other non-government issuers ('corporate bonds') organised or operating in both developed and emerging markets and denominated in global currencies.

The Global Fixed Income Opportunities Fund combines a top-down macroeconomic assessment, to determine optimal beta positioning for the portfolio, with rigorous bottom-up fundamental and quantitative analysis to guide our active management decisions. Our approach to managing an active, flexible strategy is to generate attractive risk-adjusted returns by creating a highly diversified portfolio constructed from a broad set of fixed income assets, while paying close attention to the correlations between the asset classes in order to blend risks optimally.

Seeks to provide an attractive rate of return, measured in U.S. dollars, through investments worldwide primarily in Fixed Income Securities issued by corporations that are rated lower than 'BBB-' by S&P or 'Baa3' by Moody's or similarly by another internationally recognised rating service or determined to be of similar creditworthiness by the Investment Advisor. The global nature of the Fund allows the portfolio manager to access greater liquidity in a broader market, to seek relative value opportunities, and to obtain exposure to different economic trajectories around the world.

We apply a well-defined, value-oriented, bottom-up driven investment process that focuses on investing in equity securities of publicly listed infrastructure companies we believe offer the best value relative to their underlying infrastructure value and net asset value growth prospects, irrespective of short-term market trends.

We seek established and emerging companies globally, that we believe have sustainable competitive advantages with above average business visibility, the ability to deploy capital at high rates of return, strong balance sheets and an attractive risk/reward profile.

The Fund seeks long-term capital appreciation by investing globally in high quality established and emerging companies that the investment team believes are undervalued at the time of purchase. To achieve its objective, the investment team typically favors companies it believes have sustainable competitive advantages that can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG).

We seek attractive long-term, risk-adjusted returns by investing in publicly traded real estate securities we believe offer the best value relative to their underlying assets and earnings. This dual focus for the identification of value allows us to appreciate the going concern valuation of the company as well as the liquidation value of the tangible property portfolio. We utilize proprietary research to assess both real estate specific factors and broader equity market factors, as well as Environmental, Social and Governance (ESG) factors to calculate appropriate valuation metrics. Top-down considerations are also incorporated into the portfolio construction process and the Team may integrate forecasted fundamental inflections, macroeconomic considerations, geopolitical and country risk assessments, among other factors.

The investment team believes that high quality companies built on dominant market positions and underpinned by powerful intangible assets can generate attractive returns over the long term. ESG analysis and active, portfolio manager-led engagement are fundamental to the investment process. 

The Fund typically invests in intrinsically carbon-light companies and has a significantly lower carbon footprint than the broader market, with a robust carbon-related exclusions policy and filtering process. In addition to its carbon exclusions, the Portfolio has a number of business activity^** exclusions, including alcohol, gambling, tobacco and weapons. The investment team views long-term portfolio manager-led engagement as a critical underpinning to an active investment process.

Seeks to provide an attractive rate of relative return, measured in Euro, through investment primarily in high-quality issues of Euro-denominated fixed income securities, whether issued by corporations, government or government-guaranteed issuers. The Fund will invest primarily, in order to reduce volatility, in individual securities with maturity dates having a maximum of five years.

We seek established large cap companies in the United States, that we believe have strong name recognition and sustainable competitive advantages with above average business visibility, the ability to deploy capital at high rates of return, strong balance sheets and an attractive risk/reward profile.

We focus on middle-market credits, or credits with less than $1 billion of total debt outstanding, using a value-oriented fixed income approach. In our experience, middle-market issues relative to larger peers can provide superior yields, higher coupons, shorter maturities and lower volatility, with default rates that are generally in line with the broader market.

We seek established and emerging large cap companies in the United States, that we believe have sustainable competitive advantages with above average business visibility, the ability to deploy capital at high rates of return, strong balance sheets and an attractive risk/reward profile.

We focus on middle-market credits, or credits with less than $1 billion of total debt outstanding, using a value-oriented fixed income approach. In our experience, middle-market issues relative to larger peers can provide superior yields, higher coupons, shorter maturities and lower volatility, with default rates that are generally in line with the broader market.

We seek attractive long-term, risk-adjusted returns by investing in publicly traded real estate securities we believe offer the best value relative to their underlying assets and earnings. This dual focus for the identification of value allows us to appreciate the going concern valuation of the company as well as the liquidation value of the tangible property portfolio. We utilize proprietary research to assess both real estate specific factors and broader equity market factors, as well as Environmental, Social and Governance (ESG) factors to calculate appropriate valuation metrics. Top-down considerations are also incorporated into the portfolio construction process and the Team may integrate forecasted fundamental inflections, macroeconomic considerations, geopolitical and country risk assessments, among other factors.