The fund aims to achieve income and capital appreciation through investing
primarily directly or indirectly in Emerging Market government and corporate
bonds, including those denominated in local and globally traded major
currencies (“hard currencies”) and nominal and inflation linked debt instruments.
The fund may achieve exposure to such investments or elements of their return
through the use of financial derivative instruments. Investments will be made
within, although will not be limited to, Latin America, Asia, Africa, Eastern Europe
(including Russia) and the Middle East. The fund may invest its net assets
directly in onshore China fixed income securities listed or traded on exchanges
in China or on the mainland China interbank bond markets.