The sub-fund aims to achieve an attractive return, taking into account both capital appreciation and income returns by investing predominantly in USD denominated fixed-rate, investment-grade sovereign, sovereign related and supranational debt. This sub-fund is actively managed and uses the Bloomberg USD Treasury Bond Index as a reference for portfolio construction, performance comparison and risk management but is not constrained by it. The majority of the subfund’s securities will be components of the benchmark. This sub-fund will seek to outperform the benchmark over the long-term.