The Sub-Fund aims to achieve income over the medium term (3-5 years). The Sub-Fund is actively managed and invests in a portfolio which may include but is not limited to fixed income securities (bonds) and other debt instruments (such as floating rate notes and index-linked notes). The Sub-Fund will typically invest at least 75% of the Sub-Fund’s portfolio in bonds rated below investment grade (BBB-) by Standard & Poor's (or equivalent recognised rating agency). At least 80% of the portfolio will be in sterling-denominated bonds or hedged back to sterling.