The aim is for your investment to reflect the performance of the MARKIT IBOXX EUR LIQUID COVERED INDEX (Index). The Index reflects certain types of tradeable debt (bonds) denominated in Euros considered less likely to default (investment grade) and which are issued by a credit institution with its registered office in the European Union governed by rules designed to protect bond-holders (covered bonds) or are considered by the market to be covered bonds. T-Bills and other money market instruments are not eligible.