This Sub-Fund aims to outperform the return of Bloomberg Barclays US Credit Index (“Benchmark”). The Sub-Fund is actively managed. The Benchmark is used as a reference point for portfolio construction and as a basis for setting risk constraints. The majority of the Sub-Fund’s exposure to bonds will refer and have similar weightings to the Benchmark. The Investment Manager may use its discretion to invest in bonds not included in the Benchmark in order to take advantage of specific investment opportunities. It is thus expected that the performance of the Sub-Fund will to a limited extent deviate from the Benchmark.