Anlageziel

The fund seeks to earn income and capital growth over the long term (5 years or more), by investing in a diversified portfolio of high-grade structured finance securities. Investment Policy The Sub-Fund invests mainly in structured finance securities issued globally, including up to 5% of the Sub-Fund’s total net assets in Emerging Markets. Specifically, at all times, the Sub-Fund invests at least two-thirds of total net assets (excluding ancillary liquid assets, eligible deposits, money market instruments and money market funds) in structured finance securities, including but not limited to asset-backed securities (ABS), mortgage-backed securities (MBS), and collateralised loan obligations (CLOs). These bonds may be secured on residential, commercial, auto, consumer or corporate loans, among other asset types. At least 80% of the structured finance securities investments will be into senior tranches, defined as AAA-AA- by Standard & Poor’s and Fitch or Aa3 or higher by Moody’s.