Anlageziel

The Sub-Fund seeks to maximize total return consisting of current income and capital appreciation by primarily investing in USD-denominated high yield debt securities. In selecting securities for the Sub-Fund, the Investment Manager combines a top-down (where top down means a general assessment of the overall market environment including factors described below) and bottom-up (where bottom-up means a more subjective approach, researching the individual issuers as further described below) investment philosophy, with a strong focus on a security’s relative value.