FOR PROFESSIONAL INVESTORS ONLY.

FOR A FULL LIST OF APPLICABLE RISKS, INVESTORS SHOULD REFER TO

THE PROSPECTUS OR OTHER OFFERING DOCUMENTS.

LIQUID ABS FUND

31 August 2024

FUND OBJECTIVE FUND FACTS

The Fund seeks to generate a return for investors mainly through investment in a portfolio of Fund size: £2.5bn
liquid asset backed securities (ABS) and corporate floating rate notes (FRNs)
Inception date: 22 January 2015

FUND SUMMARY Benchmark: 1 Month SONIA

● Fund managers: Dimitrios Theodorikas,

Actively managed to aim to deliver positive absolute returns in excess of a cash
Oliver Waite, Tristan Teoh
benchmark
● Aims to add value principally through a focus on daily liquidity management, via a high
allocation to AAA and AA rated instruments with short maturities
● Rigorous, disciplined investment process aiming to deliver precision and diversification

SHARE CLASS PERFORMANCE (%) (S £ Acc share class) FUND CHARACTERISTICS

Since inception
1 month 3 months 1 year 3 years (pa) 5 years (pa) Fund
(pa)

Fund 0.43 1.47 6.56 3.65 2.73 2.13 Yield (%) 5.65

Benchmark 0.43 1.32 5.40 3.25 2.04 1.33 Weighted average life (years) 1.7

Calendar year returns 12-month rolling returns Weighted Average Discount Margin
76
2023- 2022- 2021- 2020- 2019- (Assets) vs Sonia (bp)
2023 2022 2021 2020 2019
2024 2023 2022 2021 2020 Weighted Average Discount Margin
70
Fund 6.22 0.41 1.08 1.11 2.09 6.56 4.41 0.08 1.64 1.07 (Fund) vs Sonia (bp)

Benchmark 4.77 1.42 0.06 0.19 0.80 5.40 3.83 0.58 0.05 0.44
Source: Insight Investment and Rimes. Fund performance is shown for share class S £ Acc
and is calculated as total return, including reinvested income, gross of fees and expenses.
Gross of fees performance results do not reflect the deduction of charges, which will reduce
investors’ returns. Benchmark performance shown is for 1-month SONIA (previously 3-Month
GBP LIBOR until 1st January 2020). Performance for periods over one year is annualised. Past
performance is not a guide to future performance. The value of investments and any income
from them will fluctuate and is not guaranteed (this may be partly due to exchange rate
fluctuations). Investors may not get back the full amount invested. Investors must read all
performance information alongside the full performance information in the KIID.

KEY BENEFITS FOR VAG-

FUND MANAGER COMMENTS REGULATED INVESTORS
● Predominantly investment grade instruments
The Fund outperformed its cash benchmark in August, ending with a running yield of 70 bp
ahead of one-month SONIA and an average weighting of AAA. Risk assets delivered modest ● The Fund will invest in securities rated at least
B-1
positive returns, despite increased volatility instigated by soft economic data and the
unwinding of the yen carry trade. European structured credit succumbed to market ● UCITS Fund
turbulence but to a lesser degree. Initial spread widening largely reversed towards the end of ● Provision of quarterly VAG reporting
the month, driven by carry. Issuance was relatively robust despite seasonal weakness, as ● Provision of German tax reporting
issuers took advantage of the strong performance. US structured credit saw subdued
● Gutachten available
issuance relative to the previous month and compared to August 2023, with spreads ending
1
the month flat to modestly wider. The Fund was active, focusing on secondary purchases. We The fund may also invest in unrated securities
added a diverse range of bonds across different asset classes and jurisdictions, especially where, in the opinion of the Sub-investment
short-dated AAA rated collateralised loan obligations, which offer an attractive risk-return manager, they are at least of equivalent quality to
B-.
profile.
CREDIT RATING TECHNICAL DETAILS
AAA 97.9% Legal structure: Open Ended Investment
AA 1.8% Company (UCITS)
A 0.2%
Domicile: Ireland

Share class currencies: Sterling, Euro

Dealing frequency: Daily, Midday

Settlement period: T+3

Pricing method: Swinging single price

Scheme: Insight Global Funds II plc

GEOGRAPHY
Depositary: Northern Trust Fiduciary Services
UK 35.9% Spain 0.3% (Ireland) Limited
Australia 20.3% Belgium 0.3%
Germany 13.0% Administrator: Northern Trust International
Pan-Europe 8.8% Fund Administration Services (Ireland) Limited
Cash 8.0%
Netherlands 5.5% Ongoing charges: 0.20% (represented by
share class B Sterling Accumulation, other
France 5.0%
share classes are available)
US 1.4%
Finland 1.1%
Ireland 0.4%

MATURITY PROFILE
30.0
25.0 21.2
18.9 18.3
20.0
15.2
15.0 12.4
%

10.0 8.2
5.1
5.0
0.6 0.0
0.0
< 0.5 <1 <1.5 <2 <3 <4 <5 <6 =>6
Maturity band (years)

FUND ALLOCATION
Prime residential MBS 28.5% Trade Finance 1.5%
www.insightinvestment.com
Auto 22.2% SME Finance 0.3%
CLO - BSL 8.5% CLO - MML 0.1%
UK non-conform RMBS 8.4%
Cash 8.0%
Credit cards 7.8%
Commercial MBS 5.5%
Consumer 3.9%
Equipment Finance 2.7%
Buy-to-Let RMBS 2.6%

This document is not a contractually binding document and does not constitute legal, tax, or investment advice. It must not be used for
the purposes of an offer or solicitation to anyone in any jurisdiction. Prospective investors are referred to the Fund's' prospectus and
Key Investor Information Document (KIID) for a full list of applicable risks, investor rights, KIID risk profile, financial and non-financial
investment terms. The latest Report & Accounts, Prospectus and the KIID can be found at www.insightinvestment.com within the Tools
and Resources: Fund literature and Prices section. Investors are urged to consult their own advisers on the implications of making any
investment. Do not base any final investment decisions on this document alone. Portfolio holdings are subject to change, for information
only and are not investment recommendations. Unless otherwise stated, the source of information and any view and opinions are those
of Insight Investment. In Austria, the current Prospectus and the KIID are available free of charge from Société Générale, Vienna Branch,
Prinz-Eugen-Straße 32, A-1040 Wien. In Germany, the KIID, prospectus, articles and latest annual report are available free of charge in
hardcopy from the paying agent, Société Générale, Zweigniederlassung Frankfurt, Mainzer Landstraße 36, D-60325 Frankfurt. In
Luxembourg, the KIID, prospectus, articles and latest annual report are available free of charge from the paying agent, State Street Bank
Luxembourg S.A, 47-49 avenue J F Kennedy, L-1855 Luxembourg. In Sweden, the KIID, prospectus, articles and latest annual report are
available free of charge from the paying agent, Skandinaviska Enskilda Banken AB (publ), Global Transaction Services, ST MH1, SE – 106
40 Stockholm. In Switzerland, the KIID, prospectus, articles and latest annual report are available free of charge from Carnegie Fund
Services S.A.,11, rue du Général-Dufour, 1204 Geneva. Issued by Insight Investment Funds Management Limited (IIFML), 160 Queen
Victoria Street, London EC4V 4LA.. IIFML is authorised and regulated in the UK by the Financial Conduct Authority.

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