The Scheme’s investment objective is to achieve an income (1) over a 12-month period that consistently exceeds typical cash deposit rates (measured by SONIA), paid out on a monthly basis, by predominantly investing in sterling-denominated bonds (2) that are deemed to make a positive contribution to society. Investments in the Scheme will adhere to the Manager’s ethical and sustainable investment policy. Typically, 80% of the Scheme’s assets will be invested in a diversified portfolio of sterling-denominated bonds or bonds hedged back to sterling (there is no formal restriction).