The fund primarily invests in a diversified portfolio of corporate bonds of high quality denominated in Euro (with a rating of AAA to BBB-). The fund may invest a limited percentage in corporate bonds with a higher risk and therefore with a higher interest rate (with a quality rating lower than BBB). Measured over a period of several years we aim to beat the performance of the benchmark Barclays Euro Aggregate Corporate. We actively manage the fund with a focus on bond selection. We combine our analysis on specific issuers of corporate bonds with a broader market analysis to construct the optimal portfolio. We aim to exploit differences in valuations of the companies issuing the bonds within sectors and differences in valuations between sectors and different quality segments (ratings). As issuer specific risk is an important driver of performance, we subject all issuers in the investable universe to an in-depth analysis of business and financial risk.