Allianz Gilt Yield I Inc

The investment objective of the Fund is to maximise total return, consistent with preservation of capital and prudent investment management by aiming to outperform (net of fees) the Target Benchmark, the FTSE Actuaries UK Conventional Gilts All Stocks Index Midday Total Return (in GBP), over a rolling three year period. The ACD aims to achieve the investment objective by investing in gilts, overseas government bonds, government guaranteed bonds, bonds issued by government owned or government sponsored entities and supranational bonds. At least 80% of the value of the Fund will be invested in gilts issued by the United Kingdom Government.