According to search QN-2654, the global mandate will follow the Bloomberg Barclays MSCI Global Aggregate ex-CHF Sustainability Index. As for the Swiss bonds mandate (search QN-2655), the active segregated strategy will follow the SBI AAA-BBB 1-5 Total Return Index. The global mandate, also an active segregated strategy, is expected to invest in global corporate and government bonds, hedged to the Swiss franc, it said, adding that portfolio currencies are to be fully hedged – hedge ratio must be between 95%-105% at all times. According to the notices, up to 5% of assets in off-benchmark listed securities – subject to limitations, such as a minimum rating of BBB- and the issuer being a corporate – will be permited. The use of collective investment schemes (i.e. implementing the mandates via pooled vehicles), however, will not be permitted.