The objective of this Sub-Fund is to achieve income and as a secondary objective capital appreciation over the recommended holding period by investing mainly in a diversified portfolio of Investment Grade or sub- Investment Grade debt and debt-related instruments issued by companies incorporated, headquartered or having their principal business activities in the OECD or by any government, supranational bodies, local authorities or international public bodies from any country in the world, including Emerging Markets, whereas the Sub-Fund may invest up to 100% of its net assets in sub-Investment Grade debt and debt-related instruments. The Sub-Fund may invest in Money Market Instruments for treasury purposes and/or in case of unfavourable market conditions and Credit Institution Deposits in order to achieve its investment goals and/or for treasury purposes and/or in case of unfavourable market conditions denominated in Euro, GBP and US dollar. The Sub-Fund will seek to hedge back to Euro the currency exposure from investments in instruments not denominated in Euro. The Sub-Fund may invest up to 30% of its net assets in Emerging Markets.