The objective of the BCV International Bonds ESG is to achieve long term capital gains through the bond investment policy defined by the Banque Cantonale Vaudoise. The Subfund invests in bonds denominated in all currencies, issued by private or public borrowers worldwide. The portion of the sub-fund's assets as defined in the investment policy, the portfolio manager integrates environmental, social, and governance (ESG) criteria into the investment selection process and their weighting in the portfolio. The share in collective investment schemes and in high yield bonds and other speculative securities is limited respectively to a maximum of 10% and 30% of the Subfund's assets.