The aim of this Fund is to provide an income return combined with any capital growth over the short term (being a period of three years or less). The Fund invests at least 70% of its Net Asset Value in sterling-denominated or hedged back to sterling investment grade bonds (meaning bonds with a Standard & Poor's rating of at least BBB- or such equivalent rating by Moody's or Fitch), which are issued by companies with a bias towards shorter maturities with the aim of reducing the effect of fluctuations in interest rates. The ACD seeks to reduce the effect of credit risk through diversification and its analysis and selection of bonds.