The fund’s investment objective is to achieve a high level of income from a diversified portfolio of fixed interest securities. The emphasis of the fund will be sterling-denominated, or hedged-to-sterling, corporate bonds. The fund may also invest in convertible bonds, British government securities, eurosterling issues, preference shares, sterling denominated and non sterling denominated fixed interest securities, and other fixed interest issues. Investment will be in directly held transferable securities. The fund may also invest in collective investment schemes, warrants and money market instruments.