The Fund aims to provide a combination of capital growth and income that is higher than that of the China corporate bond market over any three-year period, while applying the ESG Criteria. At least 80% of the Fund is invested in debt securities issued by companies (including state-owned and private enterprises) that are based or do most of their business in China. At least 60% of the Fund is invested in high quality debt securities, and the Fund may also invest up to 20% in lower quality debt securities (including up to 10% in distressed debt securities and defaulted securities). These debt securities are typically denominated in CNY, CNH or in USD. the Fund applies a dynamic approach to invest in a broad range of debt securities across the China corporate bond market. The investment approach combines top-down fundamental analysis and bottom-up security selection. The top-down analysis entails the analysis of macroeconomic factors such as economic growth, interest rates and inflation. For China specific levels, factors such as monetary and fiscal policies, capital flows, and political and regulatory environments are also assessed. The sub-investment manager seeks to identify and take advantage of growth and/or income opportunities across all segments of the China corporate bond universe. The sub-investment manager actively manages sector, interest rate and currency exposures with a view to generating performance and returns under different market conditions and responding to changes in the macroeconomic outlook. The Fund's flexibility allows the portfolio to be managed with broad diversification by individual issuers and sectors across the China corporate bond market.