The Fund primarily invests in high yield corporate bonds in Europe. During certain times the Fund might have a significant concentration geographically to the Baltics, Emerging Europe, the Nordics or outside of Europe or sector-wise to financials, real estate or energy. The Fund mainly invests in unrated or below investment grade high yield corporate bonds. The risk level and return expectation of such instrument is higher than for government bonds or investment grade corporate bonds. Allocation of the Fund’s assets between different bond types, industrial sectors and geographical regions is determined by the Management Company based on issuer specific analysis and exercising active portfolio management strategy.
