Anlageziel

The Sub-Fund aims to achieve a positive absolute return through the credit cycle. While respecting the principle of risk diversification, the Sub-Fund's assets are mainly invested in fixed-income instruments such as bonds and similar fixed-interest and floating-rate securities, including securities with embedded derivatives such as convertible and warrant bonds, issued or guaranteed by government or government-related, supra-national or corporate issuers worldwide. The Sub-Fund further engages in active currency management and can build up exposure to various currencies as well as to currency volatility. The Sub-Fund also takes active exposure to volatility via derivatives. In addition, the Sub-Fund may invest up to 20% of its net assets to asset- and mortgage-backed securities (ABS/MBS).