The objective of the BCV Stratégie Obligation ESG Sub-fund is capital preservation and steady income. The Sub-fund's investment policy reflects that of the Bank Cantonale Vaudoise, based on an allocation of assets and an international currency diversification predominantly exposed to the Swiss franc. The Sub-fund is broadly diversified. The portfolio manager takes into account environmental, social, and governance (ESG) criteria for the portion of the sub-fund's assets specified in the investment policy when selecting investments and determining their weighting in the portfolio. The Sub-fund, directly or indirectly, invests at least two-thirds of its assets in bonds and other securities or debt securities, of debtors worldwide. It is also authorized to hold a maximum of 15% of real estate investments in units of collective investments and real estate companies. Up to a maximum of 30%, the Sub-fund may also invest in units of collective investments that include equities, commodities, or precious metals. It also invests in derivative financial instruments and structured products on various underlyings and in cash. Alternative collective investment schemes are also authorized for up to 30% of the Sub-fund's assets.