The Sub-Fund aims to achieve a moderate level of current income and mid- to long-term capital appreciation. The Sub-Fund invests in equity securities and securities with equity features such as conversion rights or subscription warrants, in fixed or floating rate debt instruments and other debt securities as well as liquid assets in any currency. No more than 10% of the net asset of the Sub-Fund will be invested in debt securities rated below B- or equivalent credit quality, in the event of a downgrading of the bonds following acquisition. Investments in other UCITS(s) or UCI(s), if any, will never exceed 10% of the net assets of the Sub-Fund. The Sub-Fund may invest up to 20% of its net assets in emerging markets. Furthermore, the Sub-Fund will not invest more than 10% of its net assets in each of the following type of assets: (i) contingent convertible bonds, (ii) assetbacked securities (ABS) and mortgage-backed securities (MBS). Structured products will also be part of the Sub-Fund's investment strategy. The Sub-Fund may invest a maximum of 40% of its net assets in structured products, such as notes, certificates whose returns are linked to changes in underlying instruments such as equities, bonds, currencies, interest rates, baskets of transferable securities, an undertaking for collective investment, an index selected in accordance with the article 9 of the Grand-Ducal regulation of 8 February 2008 (including indices on volatility, commodities, precious metals, etc.), at all times in compliance with the Grand-Ducal regulation. In compliance with the Grand-Ducal regulation of 8 February 2008, the Sub-Fund may also invest in structured products without embedded derivatives, correlated with changes in commodities (including precious metals) with cash settlement. Investments in other UCITS(s) or UCI(s) will never exceed 10% of the net assets of the Sub-Fund.