The Fund seeks to maximise investment return through both income and capital growth over the medium term. To achieve this objective the Fund will invest predominantly in short dated UK and global index linked government and corporate bonds. The Fund may also invest in other debt securities such as government and corporate bonds, floating rate notes and money market instruments, and also in other transferable securities, cash, near cash and collective investment schemes as the Investment Adviser deems appropriate. The debt securities in which the Fund invests may be investment grade or non-investment grade. It may hold derivatives for the purposes of EPM.