The Fund is a sub-fund of GemCap Investment Funds (Ireland) plc, which is an umbrella type open-ended investment company with variable capital and segregated liability between sub-funds and is incorporated with limited liability under the laws of Ireland with registered number 485081, which was authorised by the Central Bank on 11 November 2010 as a UCITS. The Fund will invest under normal circumstances at least 70% of its net assets in convertible securities and synthetic convertible investments (up to 15% of its net assets) issued by entities worldwide. Convertible securities may include bonds, notes (up to 10% of its net assets in structured notes listed, traded or dealt in on a Recognised Exchange), debentures, which may be rated investment grade or below and may be issued by corporates, governments or public international bodies, and preferred stock. The Fund may invest in Rule 144A securities (range between 15% and 45% of the Fund's net assets).The remaining assets may be invested in equities, fixed- income, variable interest securities), eligible collective investment schemes (no more than 10% of its net assets), cash and cash equivalent securities such as money market instruments, commercial paper, certificates of deposit or treasury bills.