The sub-fund aims to provide long term total return by investing in a portfolio of Euro denominated high yielding bonds, while promoting ESG characteristics within the meaning of Article 8 of SFDR. The sub-fund aims to do this with a higher ESG rating, calculated as a weighted average of the ESG ratings given to the issuers of the sub-fund’s investments, than the weighted average of the constituents of the ICE BofA Euro High Yield BB-B Constrained1 (the “Reference Benchmark”). The sub-fund invests (normally a minimum of 90% of its net assets) in Non-Investment Grade rated fixed income securities and other higher yielding securities (including unrated bonds) which are either issued by companies or issued or guaranteed by government, government agencies or supranational bodies in both developed markets and Emerging Markets. These securities are denominated in Euro and, on an ancillary basis (normally up to 10% of the sub-fund's net assets), in other developed market currencies.