The objective is to seek to generate a return greater than the return provided by long-dated UK investment grade corporate bonds, derived from investment in UK and global securities. The fund invests in government bonds, non-government bonds; fixed rate, variable rate, inflation-linked, index-linked and non-sterling bonds (including emerging market debt); secured and unsecured debt securities (including floating rate notes); and investment grade and high yield bonds; and may express views on exchange rates. It may invest in other transferable securities (including warrants), money market instruments, deposits, cash and near cash and units in collective investments schemes.

Asset managers:
Jonathan Gregory (Started: May 14, 2012)
Simon Foster (Started: Mar 6, 2007)

Advisor Company:
UBS Global Asset Management (UK) Ltd

	1 year	3 years	5 years	10 years
Alpha*	-6.21	2.41	1.40	-
Beta*	1.46	0.96	1.19	-
Mean annual return	0.77	0.94	0.84	-
R-squared*	90.66	63.25	75.41	-
Standard deviation	6.99	6.91	11.21	-
Sharpe ratio	1.24	1.54	0.76	-
* Against standard index

Security	Net Assets
Us 5yr Note (Cbt) Future Mar13 28/Mar/2013 (Fvh3)	17.65%
Long Gilt Future Mar 13 26/Mar/2013 (G H3)	11.04%
Euro-Bund Future Mar13 07/Mar/2013 (Rxh3)	4.11%
Us 10yr Note (Cbt) Future Mar13 19/Mar/2013 (Tyh3)	3.67%
United Kingdom (Government Of) 4%	2.62%
Euro Inv Bk 4.5%	2.41%
Euro Inv Bk 5%	2.27%
Rwe Fin Bv 6.125%	2.23%
Gen Elec Cap 4.875%	2.18%
Edf 6.125%	2.06%