Anlageziel

The fund seek to earn income and increase the value of the Shareholder’s investment over the long term (5 years or more). Investment Policy The Sub-Fund invests in hybrid bonds from anywhere in the world. Hybrid bonds have both debt and equity characteristics, they are subordinated bonds, which rank between debt and equity in a company’s capital structure. The Sub-Fund will seek to enhance income through a diversified portfolio of hybrid securities and will seek the most attractive opportunities irrespective of credit rating. Specifically, at all times the Sub-Fund invests at least 70% of total net assets (excluding ancillary liquid assets, eligible deposits, money market instruments and money market funds) in hybrid bonds issued by non-financial companies.