The fund will invest in USD Investment Grade bonds, to enable investors to profit from a conservative and diversified bond exposure. The fund will be able to invest in bonds of different types (fixed coupons, floating rate notes linked to the CPI, floating rate notes linked to the Libor, etc.) and of different maturities, as long as the rating of the bonds at the time of the purchase was 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 USD interest rates, the fund will target different overall duration, average rating, and country and sector exposures.