The sub-fund aims to provide long term total return by investing in a portfolio of bonds denominated in or hedged into Singapore Dollars (SGD). The sub-fund invests in normal market conditions a minimum of 90% of its net assets in: • Singapore Dollar denominated Investment Grade and Non-Investment Grade rated fixed income, unrated fixed income and other similar securities issued or guaranteed by governments, government agencies or supranational bodies or issued by companies. • Investment Grade and Non-Investment Grade rated fixed income, unrated fixed income and other similar securities which are denominated in non-SGD currencies and hedged to SGD. These securities will primarily be issued or guaranteed by governments, government agencies or supranational bodies in Asia or issued by companies which are domiciled in, based in, or carry out the larger part of their business in, Asia. The sub-fund may invest up to 30% of its net assets in Non-Investment Grade rated fixed income securities. The sub-fund may invest up to 10% of its net assets in Asset Backed Securities ("ABS") and Mortgage Backed Securities ("MBS"). The sub-fund may invest up to 10% of its net assets in convertible bonds (excluding contingent convertible securities). The sub-fund may invest up to 10% of its net assets in contingent convertible securities; however such investment is not expected to exceed 5%. The sub-fund may invest up to 10% of its net assets in units or shares of UCITS and/or other Eligible UCIs (including other sub-funds of HSBC Global Investment Funds). The sub-fund may use financial derivative instruments for hedging purposes. The sub-fund may also use, but not extensively, financial derivative instruments for investment purposes. The financial derivative instruments the subfund is permitted to use include, but are not limited to, futures, options, swaps (such as credit default swaps) and foreign exchange forwards (including non-deliverable forwards). Financial derivative instruments may also be embedded in other instruments in which the sub-fund may invest. It is expected that the sub-fund's primary currency exposure will be to the SGD. The sub-fund may have exposure to non-SGD currencies, including developed market and Emerging Market currencies, which will be hedged into SGD.