The Fund aims to achieve long term investment returns, primarily by investing in a portfolio of fixed income securities that may have the potential to provide risk-adjusted income and capital appreciation. In order to achieve its investment objective the Fund will invest, in a manner consistent with the UCITS Regulations and Central Bank requirements, in a portfolio of bonds, primarily, residential mortgage-backed securities (RMBS), which are listed or traded on a Regulated Market as set out in Appendix 1 of the Prospectus. Issuers of such RMBS will primarily be located in North America.