The Fund's investment objective is to achieve an attractive level of total return with the majority of the Fund invested in Sterling denominated non government Investment Grade Debt and Debt-Related Securities.
The majority of the Fund will be invested in Investment Grade Sterling denominated longer dated non-government Debt and Debt Related Securities which are listed or traded on an Eligible Market or OTC market. The Fund may also invest in Investment Grade Sterling denominated government Debt and Debt Related Securities. The Fund will primarily have exposure to Sterling.
The Fund may also invest up to 10% of its Net Asset Value in Sub-Investment Grade Debt and Debt-Related Securities. Any security which is downgraded after purchase to Sub-Investment Grade will not be sold unless, in the opinion of the Investment Adviser, it is in the best interests of Shareholders to do so.