The aim of this Sub-Fund is to provide investors with an opportunity to invest worldwide, mainly in bonds from issuers with high creditworthiness (classified as investment grade by the established rating agencies). The investment universe comprises government/quasi-government and corporate bonds. The Sub-Fund may also invest in emerging markets and high yield bonds, global bonds or other fixed and floating debt rate securities of any type issued predominantly by investment grade rated governments, government agencies and supra nationals, including emerging markets. The Sub-Fund may also invest up to one-third of its net asset value, in securities which are rated either lower than "BBB-" by S&P or "Baa3" by either Moody’s or similarly by another internationally recognized rating service or determined to be of similar creditworthiness by the Portfolio Manager or – in so far as it concerns a new issue that does not yet have an official rating.
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