The Fund aims to achieve a combination of income and capital growth and to outperform the ICE BofA Sterling Non-Gilt Index, net of charges, over rolling five-year periods. The Fund invests at least 80% of the value of its property in Sterling-denominated (or hedged back to Sterling) investment grade debt securities issued by companies located anywhere in the world. The Fund may also invest in investment grade and sub-investment grade debt securities issued by companies, banks, public entities and governments located anywhere in the world. Investment may be direct or indirect (e.g. through collective investment schemes or derivatives). The Fund may hold up to 10% in contingent convertible bonds (CoCos).