The goal of the Fund is to achieve a long term outperformance of 80 basispoints above benchmark return before management fees combined with a low capital requirement as referred to by the ‘Financieel Toetsingskader’ and Solvency. The Fund invests, directly or indirectly, in less liquid loans guaranteed by or affiliated with national or regional governments from EU and/or OECD countries, as well as international institutions such as supranational organizations and agencies. The Fund Manager is also allowed to invest in liquid government guaranteed bonds and (government) guaranteed loans to Export Credit Agencies. The Fund’s policy aims to generate value through active selection of individual loans and to invest in less liquid instruments that offer a liquidity premium and have low capital requirements. For illiquid loans the Fund has a buy-and-hold strategy.