MI TwentyFour AM Asset Backed Income Fund A Income Gross shares

The Fund aims to provide an attractive level of income along with an opportunity for capital growth. The Fund will invest in a diversified portfolio of European asset-backed securities, where the securities will be backed by the assets of European institutions and issuers such as residential mortgages, commercial mortgages, automobile leases and loans, SME loans and other secured bonds. From time to time it is possible that a significant portion of the portfolio may be invested in securities from a particular geographical region of Europe. A portion of the portfolio may from time to time be held in cash or cash equivalents, such as treasury bills and government bonds, in order to help manage the liquidity. The Fund will aim to minimise currency risk by materially hedging the Sub-Fund’s exposure in the foreign exchange markets. The Fund will also have the ability to use derivatives to reduce or mitigate other risks.