The fund seeks high income but also to grow the value of your investment over the long term. The fund will invest in: fixed interest securities (contracts to repay borrowed money with interest at fixed intervals) which can be issued by governments, companies, including building societies; preference shares (shares which have special rights to income or to capital but do not carry voting rights); convertibles (assets which provide income or capital and can be exchanged for more valuable assets if their value increases enough); debentures (contracts to repay borrowed money with interest); shares borrowed from others for a fee.