So investiert der Pictet Ultra Short -Term Bonds EUR I Fonds: The Fund will mainly invest in (i) a diversified portfolio of corporate and/or government bonds and other debt securities of any type and/or, money market instruments with debt securities having an investment grade rating or identical quality criteria and a maturity of no more than three (3) years and (ii) cash and deposit. Investments will be made in debt securities (including money market instruments) having an investment grade rating or when there is no official rating system, in debt securities considered by the Board of Directors as having identical quality criteria. If the credit rating of a security held by the Fund deteriorates to non-investment grade, the security may be kept or sold at the Manager’s discretion, in the best interests of the Shareholders. Investments will be denominated in EUR or in other currencies as long as the debt securities and money market instruments are generally hedged in EUR.