The objective of the investment policy is to achieve an above average total return by investing in Emerging Markets Bonds. To achieve the return target, the portfolio manager invests in Emerging Markets Sovereign, Quasi-Sovereign and Corporate Bonds in an opportunistic, or benchmark agnostic, way. The fund applies a flexible investment strategy with respect to duration risk, credit risk, and may invest into local currency Emerging Markets bonds. The investment policy may also be implemented via suitable derivative instruments.