The Fund aims to deliver both coupon income and capital appreciation through investment in global fixed income securities, primarily in investment grade bonds, senior bonds and quasi sovereign bonds.

Markets were volatile in October from renewed tariff threats and the U.S. government shutdown but ended the month on firmer footing. In Asia, Chinese equities were initially pressured by weak PMI data and softer Golden Week consumption, but sentiment improved as policymakers emphasized tech self-sufficiency, domestic demand and supply-chain security. Easing geopolitical tension and continued demand for Chinese tech exports drove a rebound in China/HK markets.

The Fund aims to deliver a steady combination of long-term capital growth and income by investing globally in a range of asset classes.