The sub-fund mainly invests in a diversified portfolio of equities and/or transferable securities (warrants on transferable securities – up to a maximum of 10% of the sub-fund’s net assets – and convertible bonds) issued by companies established, listed or traded in any country worldwide. Measured over a period of several years this sub-fund aims to beat the performance of the benchmark MSCI World (Net). Moreover, the sub-fund reserves the right to invest up to 20% of its net assets in Rule 144A Securities. The sub-fund may also invest, on an ancillary basis, in other transferable, money market instruments, units of UCITS and other UCIs and deposits. However, investments in UCITS and UCIs may not exceed a total of 10% of the net assets.