The assets of the Fund are invested on a diversified basis in securities and other assets, as further described below. The investment goal of the Alegra ABS Two (Euro) Fund is to achieve an above-average risk/return profile by investing in Asset- Backed Securities (“ABS”) with low volatility and minimal correlation to traditional investments. ABS are securities which are typically issued by a special purpose company (“SPV”) on the occasion of the securitization of assets. An asset securitization is the transformation of a pool of cash-flow generating assets into tradable securities. The purchase of the asset pool by the SPV is financed through the issuance of various debt notes. Interest and principal payments on the notes are thereby exclusively derived from cash flows generated by the SPV’s assets.