SUB FUND RISK PROFILE The Subfund is a category 3 (on a scale of 1-7) or high risk/return Subfund profile which reflects its ability to have equity market exposure of between 0% and 100%. The risks described below are not exhaustive: it is the responsibility of investors to analyse each investment’s risk and to come to their own opinion. Capital loss risk : As the Subfund in this document does not have any guarantee or protection, the capital initially invested might not be restituted in full. Credit risk : Valuations of debt securities and other financial instruments are influenced by the issuing company’s credit rating. As a result, their capital value fluctuates according to the market’s perception of the financial health of their issuers and this may entail a fall in the fund’s NAV if the outlook turns negative. Credit risk corresponds to the risk that an issuer of bonds or money market instruments might not be able to honour his commitments. Credit risk from investing in speculative securities : The subfund may invest in government and corporate rated as non investment grade by a rating agency (i.e. rated below BBB- by Standards and Poor’s or an equivalent rating from another independent agency) or considered as equivalent by our investment company. These issues are so-called speculative debt securities with a higher risk of issuer default. The subfund must be viewed as partly speculative and concerns in particular investors who are aware of the risks inherent in these securities. Consequently, investing in high yield securities (speculative securities which have a higher default risk) may entail a bigger fall in the subfund’s net asset value. Equity risk : Share prices may move in line with factors specific to the issuing company but they may also react to external political and economic factors. Equity market fluctuations may entail changes in the Subfund’s net asset value and might have a significantly negative impact on its performance. The Subfund’s performance will depend on the companies selected by the asset management company. June 2018. This document is issued by Edmond de Rothschild Asset Management (France). Non-binding document. This document is for information purpose only. Any reproduction, disclosure or dissemination without prior consent from the Edmond de Rothschild Group is strictly prohibited. The information provided in this document should not be considered as an offer, an inducement, or solicitation to deal by anyone in any jurisdiction where it would be unlawful or where the person providing it is not qualified to do so. It is not intended to constitute, and should not be construed as investment, legal, or tax advice, nor as a recommendation to buy, sell or continue to hold any investment. EdRAM shall incur no liability for any investment decisions based on this document. The Funds presented herein may not be registered and/or authorised in your country. You should seek advice from your professional advisor if you are in doubt as to whether any of the Funds mentioned might be suitable for your individual situation. Any investment involves specific risks. We recommend investors to ensure the suitability and/or appropriateness of any investment to its individual situation, using appropriate independent advice, where necessary. Furthermore, investors must read the key investor information document (KIID) and/or any other legal documentation requested by local regulation, that are provided to them before any subscription and available at http://funds.edram.com, or upon request free of charge. « Edmond de Rothschild Asset Management » or « EdRAM » is the commercial name of the asset management entities of the Edmond de Rothschild Group. GLOBAL DISTRIBUTOR EDMOND DE ROTHSCHILD ASSET MANAGEMENT (FRANCE) 47, rue du Faubourg Saint-Honoré, 75401 Paris Cedex 08 Société anonyme governed by an executive board and a supervisory board with capital of 11,033,769 euros AMF Registration No. GP 04000015 - 332.652.536 R.C.S. Paris MANAGEMENT COMPANY EDMOND DE ROTHSCHILD ASSET MANAGEMENT (LUXEMBOURG) 16, Boulevard Emmanuel Servais, L – 2535 Luxembourg SUB INVESTMENT MANAGER EDMOND DE ROTHSCHILD ASSET MANAGEMENT (FRANCE) 47, rue du Faubourg Saint-Honoré, 75401 Paris Cedex 08 edram.fr