The fund invests in debt instruments (i.e. notes, bonds, certificates, mortgages, etc) issued and/or denominated in the currencies of low or middle-income developing countries ("emerging markets") in Latin America, Asia, Central Europe, Eastern Europe and Africa. In most cases, the remaining life of these instruments is less than one year. Furthermore, the fund enters in emerging market currency forward contracts (a currency market transaction in which a seller agrees to deliver a specific currency to a buyer at some point in the future). We seek to add value through currency and interest rate positioning. Measured over a period of several years we aim to beat the performance of the benchmark JP Morgan ELMI Plus. The fund is intended for investors capable of assessing the risks linked to this fund.