Performance funds/ETFs

The Fund aims to increase the value of your shares through a combination of growth and income from investments in corporate hybrid bonds worldwide. Corporate hybrid bonds are structured securities which combine characteristics of both equities and bonds. Investments may be in both investment grade and sub-investment grade securities. The Fund expects to invest at least 50% of its net assets in investment grade securities and may invest in excess of 30% of its net assets in sub-investment grade securities provided there are no investments rated below B- or equivalent by a recognised rating agency.