Investment Approach

The Fund seeks to provide income, whilst also aiming to preserve capital where Shares are held until the MD (a date determined at the Investment Adviser’s (IA) discretion) on which the Fund will be automatically closed .At the MD, all Shares will be redeemed at the prevailing NAV per Share. The Fund is designed for investors to hold their Shares until the MD. A redemption fee of up to 1% will be charged at the discretion of the Manager on Shares redeemed at all times except at the MD.

The Fund uses a “buy and maintain” strategy. Fixed Income Securities (FIS) will be held until their fixed MD as part of a low turnover strategy, (subject, among other factors, to ongoing monitoring of credit risk), when their capital will become repayable to the Fund. The Fund will build up its portfolio so that following the RUP, at least 75% of its NAV is invested in corporate FIS issued by companies domiciled or having main business in global developed markets and denominated in Euro, and which at the time of purchase are rated investment grade (IG) ; up to 25% of the Fund’s NAV invested in global FIS which at the time of purchase are rated non-investment grade. During the Pre-IP, RUP and 6 months prior to the MD, the Fund may hold more than 20% of its NAV in cash. The Fund may also invest up to 100% of its NAV in deposits, Money Market Instruments, units of collective investment schemes (CIS) and other cash equivalents.

The Fund is actively managed. The IA has discretion to select the Fund’s investments and is not constrained by any benchmark in this process.