The Fund is passive and has the objective to track the performance of the iTraxx-CDX IG Global Credit Steepener Index. The Fund aims to invest as far as possible in the fixed income exposures (such as through bonds and derivatives on CDS indices) that make up the Index. The ultimate exposure will be to the 5 and 10 Year On-the-Run European and U.S. investment grade CDS credit curves. The Sub-Fund aims to replicate the Index via holding long and short CDS index positions.