The Sub-Fund’s primary investment objective is high current income with capital appreciation as a secondary objective. The Sub-Fund seeks to achieve these objectives primarily through investment in a portfolio of transferable debt securities of issuers in emerging markets throughout the world. The Sub-Fund will seek to take advantage of the significant potential of emerging economies by investing in high yielding debt securities and other instruments issued by governments and corporations in these developing markets. Emerging markets include countries that are defined as emerging or developing economies by the International Finance Corporation, the International Bank for Reconstruction and Development (World Bank) or the United Nations or its authorities. The Sub-Fund will not invest more than 10% of its net assets in securities not listed on a stock exchange or dealt in on another regulated market. There can be no assurance that the Sub-Fund’s objectives will be achieved.