The objective of the Fund is to track the performance of the Euro-denominated corporate bond market for high yield, fixed rate securities. The Fund seeks to track the performance of the Bloomberg Liquidity Screened Euro High Yield Bond Index (the Index) as closely as possible. The Fund invests primarily in securities included in the Index. These securities include high yield debt securities issued in the Eurobond market and other European markets included in the Index. The maturity of these securities must be between one and up to (but not including) 15 years, have an amount outstanding of more than 250 million and be denominated in Euro.