The Sub-Fund is actively managed and seeks to achieve best possible risk adjusted return by investing in Corporate bonds and other Fixed Income instruments with focus on the Nordic market but can include if relevant other markets. The Sub-Fund may invest up to 100% of its assets in sub-investment grade (high-yield) fixed income securities and fixed income related securities issued by corporate and other issuers, including but not limited to agencies, governments or municipalities, primarily (over 50%) in the Nordic markets, but issuers are not limited to the Nordics or to Europe. The Sub-Fund investment should either have a rating from Standard and Poor or equivalent or in the event of a non-rated security, the Investment Manager's internal rating will apply. The investments may have a lower credit rating than BBB- (investment grade) by Standard & Poor's scale, or may lack official credit ratings.