Royal London Investment Grade Short Dated Credit Fund Z Inc

The Fund’s investment objective is to achieve a total return over the medium term, which should be considered as a period of 3–5 years, by predominantly investing in investment-grade bonds, which will primarily be short-dated (bonds that will reach maturity within five years). Prior to investment, the Fund’s holdings are subject to predefined ethical criteria. At least 80% of the Fund will be invested in investment grade bonds of companies and other organisations (known as corporate bonds) that are listed in sterling. Of these, at least 70% will have a maturity of less than five years. Floating rate notes, asset-backed securities, supranational bonds and agency bonds are included in this segment of the Fund.