The investment objective of the Fund is to provide long term capital growth. The Fund is actively managed and will seek to achieve its investment objective by investing at least 70% of its net assets in asset-backed securities. The Fund will invest at least 70% of its net assets in bonds with a credit rating which is deemed to be ‘investment grade’, defined as meeting one or more of the following rating criteria: Baa3 or higher by Moody's Investor Services (Moody's); BBB- or higher by Standard & Poor's Rating Services (S&P) or Fitch Ratings Inc (Fitch). The Fund will invest predominantly in bonds or notes issued by issuers located within Europe, but may also invest in bonds or notes issued by issuers located outside Europe. The Fund will invest in assets denominated both in Euros and in other currencies.
