The objective of R Parus Fund (the Fund) is to generate absolute returns by using a long/short equity strategy. This strategy is mostly long growth stocks and shorts companies with a structurally declining business. To achieve its investment objective, the Fund will use a bottom-up approach, emphasizing stock picking, based on in-house fundamental analysis with portfolio monitoring and risk control. The Fund will primarily invest in equities but will also use Financial Derivatives Instruments. The Fund will primarily invest in North America or Europe but may also invest in other markets (up to 2% of its NAV in emerging markets). The Fund may take synthetic long and short positions through investments in derivatives.