The investment objective of the Sub-Fund is to invest its assets primarily in EUR denominated high yield corporate securities, high yield sovereign securities and ETFs.

The Sub-Fund invests between 10% and 60% of its assets in high yield corporate securities denominated in EUR. High yield securities are those rated at most BB+ by S&P, Ba1 by Moody’s or BB+ by Fitch. The Sub-Fund may invest more than 35% of its assets in Greek sovereign debt securities. The Sub-Fund invests between 10% and 40% of its assets in securities carrying Greek sovereign or corporate risk. The Sub-Fund also invests between 10% and 40% of its assets in ETFs and/or units of UCITS which are eligible as per the 2010 Law.

Secondarily, the Sub-Fund invests up to 35% in money market instruments. The Sub-Fund invests also in bank deposits as well as in financial derivative instruments (such as but not limited to index futures and options, bond futures and options, FX forwards or FX futures) for the purposes of efficient portfolio management or hedging. The Sub-Fund is not allowed to invest in equity securities.                

 Liquidities, financial derivative instruments and structured financial instruments may be used within the limits described in sections 3.1. and  4. of this Prospectus.