The Investment Compartment’s investment objective is to generate income and capital gains by assuming credit risk over a medium- to long-term horizon.
To achieve its investment objective, this Investment Compartment follows the investment policy below: The assets are primarily invested in selected high-yield corporate and treasury bonds with average to high credit risk that are traded on international, regulated markets, and in bonds entailing a high degree of credit risk that may not necessarily be traded on regulated markets. To a lesser degree the Investment Compartments also invests in high rated fixed income securities and bank deposits.
Returns will come from added value and capital gains, and from income in the form of interest coupons and interest. Based on the average valuation of assets per calendar quarter, the percentage of Investment Compartment assets invested in deposits and bonds must be within the following ranges:
Bonds : from 55% to 100%
Deposits : from 0% to 45%