The fund aims to provide total returns comprised of income and capital growth (to grow the value of your investment) over at least a full credit cycle. The fund targets a positive return of Overnight SONIA +4% before fees over a full credit cycle (which may be measured over 5-year rolling periods). The fund invests primarily (at least two-thirds) in bonds (or similar debt-based assets) issued by borrowers around the world (including but not limited to emerging markets) and in related derivatives (financial contracts whose value is linked to the price of such bonds (or similar debt-based assets)).
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