The Fund is actively managed in reference to the ICE BofA US High Yield Index (the Benchmark) in order to capture opportunities in the US high yield bond market. The Fund will invest in high yield corporate bonds (i.e. bonds which are rated sub-investment grade as determined by the Benchmark provider based on the average of Moody's, Standard & Poor's and Fitch) that are mainly issued by US companies and denominated in USD, such as fixed rate bonds, floating rate bonds, convertible bonds not including contingent convertible bonds, callable bonds and perpetual bonds.