The Sub-Fund's objective is to seek to generate attractive risk-adjusted returns primarily by investing in and managing a portfolio of European and US AAA-rated collateralised loan obligations ("CLOs") on a long-only and liquid basis. The Sub-Fund will invest up to 100% of its Net Asset Value in CLOs. The underlying credit exposure of the Sub-Fund is restricted to European and U.S. assets. The Sub-Fund shall not invest in emerging markets assets.