The Portfolio’s overall investment objective is to provide long-term capital appreciation.
The Portfolio will seek to achieve this objective by investing directly and indirectly in a global portfolio of at least 50 common stocks which are listed/traded on Recognised Markets in Europe, North America, South America, the Middle East and the Asia Pacific region, including in Emerging Market
Countries. The Portfolio will also invest in a number of volatility instruments, including FDI, exchange traded notes and other collective investment schemes, with the objective of reducing the volatility of returns as well as to hedge the equity beta of the Portfolio. The Portfolio may invest more than 20% of
its Net Asset Value in other collective investment schemes. The Portfolio is expected to have medium volatility but there can be no assurance that this expected level will be achieved or that the actual annual volatility of the Portfolio will not be in excess of or less than the expected level.