The sub-fund principally invests in fixed or floating rate, short, medium and/or long term bonds and/or other debt securities (including, but not limited to, perpetual notes, subordinated bonds, zero-coupon bonds and/or bonds whose interest may be capitalised or paid in kind by the issue of new bonds ("PIK bonds"), denominated in euros issued by companies (outside the financial sector) from any part of the world and which offer a high yield.