Schroder High Yield Opportunities Fund Z Income GBP

The Fund aims to provide income and capital growth of between 4.5% and 6.5% per annum (after fees have been deducted) over a three to five year period by investing in fixed and floating rate securities worldwide. The Fund is actively managed and invests at least 80% of its assets in fixed and floating rate securities (denominated in or hedged back into Sterling) issued by governments, government agencies, supra-nationals and companies worldwide. The Fund invests at least 50% of its assets in Pan-European fixed and floating rate securities. The Fund invests at least 80% of its assets, directly or indirectly through credit default swaps and credit default swap indices, in below investment grade securities (as measured by Standard & Poor’s or any other equivalent credit rating agencies) or in unrated securities.