so investiert der LO Funds - Global Convertible Bond Defensive Delta (EUR) NA Fonds: The Sub-Fund is actively managed. The Sub-Fund is not managed in reference to an index. The Sub-Fund invests, at least two-thirds (2/3rds) of its assets, in bonds convertible into equities and in associated instruments such as warrants and convertible preference shares, denominated in various currencies, as well as synthetic convertible bonds (segregated purchase of bonds and options or convertible bonds and options) and financial derivative instruments on convertible bonds. Up to one-third (1/3rd) of the Sub-Fund's assets may be invested in other transferable securities and/or in Cash and Cash Equivalents (including short-term ABS/MBS which may represent up to 10% of investments in Cash and Cash Equivalents) in accordance with the applicable diversification rules. The Sub-Fund may hold Cash and Cash Equivalents in order to achieve its investment goals, for treasury purposes or in case of unfavorable market conditions.