The Sub-Fund's objective is to maximise absolute return by investing in a range of diversified transferable securities and/or other liquid financial assets. The Sub-Fund aims to be mainly invested in bonds and other debt instruments issued by Emerging Market sovereign, quasi-sovereign and corporate entities. The Sub- Fund will seek to achieve its objectives through securities denominated in Emerging Market local currencies as well as US dollars and other major currencies. Corporate entities must be domiciled in or derive at least 50% of their revenue from one or more Emerging Markets. The Sub-Fund may, on an ancillary basis, hold cash and invest in Money Market Instruments including in money market UCITS or UCIs denominated in US$ or other currencies. Investments made in UCITS and/or UCI may not in aggregate exceed 10% of the net assets of the Sub-Fund. The Sub-Fund may also be invested in financial instruments whose value derives from the value and characteristics of one or more underlying assets (derivatives) and engage in certain techniques for hedging purposes and efficient management of assets including total return swaps, repurchase and reverse repurchase agreements, subject to the limits in the Prospectus.