To generate a return that exceeds the Markit iBoxx 1-5 year £ Collateralised & Corporates Index, after fees, over rolling three-year periods, through a combination of income and capital growth, by investing in a portfolio of global debt and debt-related securities whilst maintaining an aggregate portfolio duration of below 4 years. At least 80% in debt and debt‐related securities, directly or indirectly using derivatives, including: Corporate bonds (investment grade and non‐investment grade), Government bonds, including agency bonds and supranational bonds, Securitisations and collateralised debt, such as asset‐backed securities and mortgage‐backed securities.