The fund managers presented in this document may not be the same over the entire life of the product.

MAIN INVESTMENT RISKS: the EdRF Emerging Bonds and EdRF Emerging Sovereign sub-funds are ranked in risk category 5 out of a scale of 7, in line with the type of securities and geographic regions detailed in the “Objectives and investment policy” section of the Key Investor Information Document (KIID).

The risks described below are not exhaustive. It is up to each investor to analyse the risks associated with each investment and to form their own opinion. Risk of capital loss: investments made by the sub-fund are subject to market trends and fluctuations. There is a risk that investors may recover a lower amount than the sum invested. Credit risk: The main risk is default by the issuer, either in terms of the non-payment of interest and/or the non redemption of capital. Credit risk is also linked to any deterioration in the creditworthiness of an issuer. The holder will note that the sub-fund’s net asset value is likely to fall in the event a total loss is recorded on an operation following the default of a counterparty. The presence of private company debts either directly or via the intermediary of a sub-fund in the portfolio exposes the sub-fund to the effects of the change in credit quality. Credit risk related to investing in high-yield securities: The sub-fund may invest in the issues of countries or companies that are rated outside the “investment grade” category according to a rating agency (rating below BBB- on Standard & Poor’s scale or an equivalent rating of another independent rating agency) or deemed equivalent by our investment firm. This sub-fund must therefore be considered as partly speculative and addressing more specifically investors aware of the risks inherent in investing in these securities. As such, the use of High Yield shares (speculative shares for which the issuer’s default risk is higher) could cause a higher risk of decline in net asset value Interest rate risk: Exposure to interest rate products (debt securities and money market instruments) makes the UCITS sensitive to interest rate fluctuations. Interest rate risk relates to a potential fall in the value of a security and therefore in the net asset value of the sub-fund in the event of a change in the yield curve. Risk associated with investing in emerging market debt: the sub-fund could be exposed to emerging markets. Apart from the risks specific to each issuing company, outside risks exist, more specifically in these markets. Moreover, investors should take note that the terms and conditions of operation and supervision of these markets may differ from standards prevailing in major international stock markets. Consequently, eventual ownership of these securities can increase the level of risk in the portfolio. Since downward market moves can be greater and faster than in developed countries, net asset value may fall more deeply and more rapidly, companies owned in the portfolio may have a state as shareholder.

March 2019. This document is issued by Edmond de Rothschild Asset Management (France). This document is non-binding and is for information purposes only. The reproduction or use of its content is strictly prohibited without the authorisation of Edmond de Rothschild Group. The information provided in this document shall not be construed as an offer or a solicitation to enter into a transaction in a jurisdiction in which said offer or solicitation would be illegal, or in which the person at the origin of this offer or solicitation is not authorised to act. This document does not constitute, nor shall it be interpreted as, investment, tax or legal advice or a recommendation to buy, sell or hold an investment. EdRAM shall not be held liable for an investment or divestment decision taken on the basis of this information. The UCIs presented herein may not be authorised for marketing in your country of residence. If you have a doubt about your ability to subscribe to a UCI, we advise you to speak to your advisor. Every investment carries specific risks. Investors should ensure the suitability of the investment with respect to their personal circumstances, and when necessary seek independent advice. Furthermore, investors are advised to read the key investor information document (KIID) and/or any other document required by the local regulation that is provided before subscription and available on the website under “Fund Center” or upon simple request free of charge. “Edmond de Rothschild Asset Management”, or “EdRAM”, is the trade name of the asset management entities of Edmond de Rothschild Group.

GLOBAL DISTRIBUTOR: EDMOND DE ROTHSCHILD ASSET MANAGEMENT (FRANCE) 47, rue du Faubourg Saint-Honoré, 75401 Paris Cedex 08 Public limited company with an Executive Board and a Supervisory Committee - Share capital €11,033,769 AMF certification number: GP 04000015 - 332.652.536 R.C.S. Paris