The fund aims to achieve income and capital appreciation by investing in investment grade bonds to enable investors to profit from a conservative and diversified exposure to the global fixed income market. The fund will invest in bonds of different types (fixed coupons, floating rate notes linked to interest rate or to inflation, CoCos, etc.), different maturities, and in various currencies, as long as the rating of the bonds at the time of the purchase is investment grade. The manager will retain discretion to keep bonds downgraded to below investment grade after the purchase. Depending on the macroeconomic situation, market conditions and the outlook for interest rates around the world, the fund will target different overall durations and average credit ratings, as well as country, sector, and currency exposures.