The Fund aims to generate a return by investing at least two-thirds of its assets across a range of bonds issued by issuers that have their registered office in emerging markets or that generate a significant portion of their economic activity in emerging markets, such as Southeast Asia, Latin America, Eastern Europe and Africa. Securities issued by Russian issuers must be listed or traded on a regulated market in Western Europe or North America. No more than one-quarter of the fund's assets are invested in convertible bonds and bonds with options. The fund may invest in 'closed' bond markets or bond markets to which private individuals have limited access.