The investment objective of the Sub-Fund is to be exposed to the Strategy during the life of the Sub- Fund. The Strategy is based on two components, being (i) a proprietary discretionary trading strategy which has been developed by the Sub-Investment Manager and (ii) an allocation of any excess cash to liquid assets pursuant to a process defined and implemented solely by the Manager. The Trading Strategy follows a disciplined long/short investing approach mainly within global Emerging Markets with an eye on liquidity and lower volatility. The objective is to seek positive returns via (i) thematic investments, (ii) tactical opportunities and (iii) short-term trading. Each component of the Trading Strategy could be subject to all three trading styles.