The investment objective of the Fund is to seek to provide a return that closely corresponds, before fees and expenses, to the total return of the Index. The Fund will invest its assets in a diversified portfolio of EUR denominated Fixed Income Instruments that, as far possible and practicable (which for the avoidance of doubt means at least 80% of the Net Asset Value of the Fund), consist of the component securities of the Index. The Fund may invest directly in the component securities of the Index or gain an indirect exposure to those securities through derivative instruments such as swaps. The Index tracks the performance of short-term EUR denominated below investment grade corporate debt publicly issued in the Euro domestic market or Eurobonds markets including bonds and pay-in-kind securities including Toggle Notes.