The primary objective of the ELEVATE PROJECT SUB-FUND is to deliver attractive returns to investors by targeting a performance that exceeds the European Central Bank base rate, plus 8%. The Sub-Fund achieves this objective through strategic investments in Credit and Hybrid securities issued by companies operating within the employer of record (EOR) payroll sector. With the EOR payroll sector valued at close to US$2 billion annually and anticipated to experience a robust compound annual growth rate of over 12%, the Sub-Fund positions itself to capitalize on the sector's promising potential. The Sub-Fund will focus on allocating capital to entities engaged in financing human resource contracts within the EOR sector. Furthermore, the Sub-Fund will diversify its portfolio by extending support to other integral participants in the EOR sector, including those providing general payroll administration and related services. This strategic allocation aims to enhance the overall risk- adjusted return profile of the Sub-Fund, ensuring a well-rounded exposure to the expanding and dynamic landscape of the EOR payroll sector. By combining a focused investment approach with a commitment to partnering with creditworthy entities and closely managing credit terms, the Sub-Fund seeks to deliver consistent outperformance and meet the investment expectations of its stakeholders.