The Fund aims to provide investors with superior returns over a market cycle through investing mainly in senior loans but also using other loan and debt securities. These senior loans typically offer greater capital security than traditional fixed income instruments.

The Fund offers the following key benefits:

• Potential insulation from interest rate risk.
• Highly efficient risk/return ratio compared to other asset classes.
• Effective method of portfolio diversification.

The Fund will seek to achieve its investment objective mainly through investment in a portfolio of high quality loans, primarily senior loans, with an allocation to other debt including second line and mezzanine loans as well as other loan classes. Loans are typically used to fund leveraged buy-out transactions and are hence often referred to as “leveraged loans”. In pursuit of its investment objective, the Fund may also invest in derivatives (including but not limited to credit default swaps), high yield securities, corporate debt securities, liquid or near cash assets and collective investment schemes. These types of instruments, securities and obligations are described below and may be issued by world-wide issuers and denominated in any currency, although they will be predominantly denominated in sterling, euros or US dollars and may or may not be listed on recognised exchanges and markets.