The objective of this sub-fund is to construct a defensive portfolio of senior secured loans, providing a stable income stream. The sub-fund aims to offer its shareholders long-term returns, above comparable benchmark Index, over its life time. The portfolio will mainly consist of European senior secured bank loans to sub-investment grade issuers, also known as leveraged loans. These bank loans represent the highest ranking securities in the capital structure of the issuing companies. The sub-fund aims to reach these goals using a blend of both qualitative and quantitative methods to monitor and control the levels of portfolio risk. This will include, but not be limited to: - Preliminary and ongoing fundamental credit research and monitoring, - Tracking of rating changes, bond and loan prices, LCDS and CDS spreads, and stock prices of the underlying companies, - Diversification across a number of sectors and geographic regions, thereby lowering the overall exposure to any individual entity, region or sector.