The Fund seeks to maximise total return by investing primarily though not exclusively in investment grade debt securities, both fixed and floating rate, of issuers located in any geographic region. The Fund may invest up to 20% of its total assets in debt securities rated below investment grade. The investment manager will actively select, purchase and sell securities with the aim of meeting the investment objectives of the Fund. Investments will generally consist of debt securities issued or guaranteed by governments or their agencies, supranationals and corporations (including transferable loan participation notes), as well as agency and non-agency mortgage backed securities and asset backed securities. The Fund may hold money market instruments, and other UCITS and may also use derivative instruments to obtain both long and short exposures for investment and hedging purposes and for investment efficiency.