The Fund aims to provide capital growth and income in excess of ICE BofA Sterling 3-Month Government Bill Index after fees have been deducted over a three to five year period by investing in fixed and floating rate securities issued by companies worldwide. The Fund may invest up to 100% of its assets in securities with a below investment grade credit rating (as measured by Standard & Poor's or any equivalent grade of other credit rating agencies). The Fund may also seek up to 25% exposure to convertible bonds and bonds with warrants. The exposure to convertible bonds includes up to 10% in contingent convertible bonds.