The Sub-Fund will at all times invest at least 50% of its total assets in convertible bonds and exchangeable bonds of the European Union within the following limits:
- Convertible or exchangeable bonds denominated in Euro: 50% to 100% of its total assets.
- Non Euro Convertible or exchangeable bonds: at most 10% of its assets invested on convertible or exchangeable bonds.
- Convertible bonds rated "investment grade": at least 50% of its assets invested in convertible or exchangeable bonds.
- Money-market instruments: 0% to 50% of its total assets.
In addition. the Sub-Fund will invest the remaining part of its total assets in warrants. subscription rights and other bonds with any equity link.