The investment objective of the Sub-Fund is to seek to provide investors with consistent absolute returns primarily through investing in fixed income transferable securities and deposits. The Sub-Fund may invest a significant portion of its assets in bank deposits (principally denominated in Euro currencies linked to the Euro).

Secondarily the Sub-Fund invests in investment and non-investment grade transferable debt securities (incl. fixed and variable interest rate securities) such as government bonds and corporate bonds, admitted to an Official Listing or dealt in on a Regulated Market and denominated in Euro or other currencies hedged against the Euro, as well as in structured financial instruments and financial derivative instruments for the purposes of efficient portfolio management or hedging.