The Segregated Portfolio will invest primarily in debt securities and debt instruments issued by companies and governments globally, particularly those issued by issuers in the Asia Pacific (including issuers with material business interests in the Asia Pacific region), including but not limited to government bonds, financial institution bonds, corporate bonds, municipal bonds, and other debt securities and debt instruments issued by Chinese issuers. The Segregated Portfolio may invest in the bond market in China directly or indirectly through Bond Connect, Qualified Foreign Investors regime and other legally permitted means and, in appropriate circumstances, through certain intermediary structures or tools. Although the Segregated Portfolio invests primarily in debt securities and debt instruments, the Investment Manager has a broad and flexible investment authority to procure the Segregated Portfolio to invest in stocks, mutual funds, derivatives, and other securities in global markets, including but not limited to exchange-traded funds and closed-end funds, convertible securities, swaps, options, repurchase and reverse repurchase agreements, futures, forward, and other derivative instruments, with an aim to achieve the overall investment objectives of the Segregated Portfolio, hedge portfolio risks, or make target investments or such other purposes as reasonably determined by the Investment Manager.

The Fund will not invest directly into real property or physical commodities.