The strategy applies a flexible investment approach designed to respond to rapidly changing market environments. The Investment Manager can invest in traditional assets (such as for example stocks, bonds and cash) and more sophisticated investment strategies (e.g. using derivative techniques) resulting in a diversified portfolio. Also other asset classes and instruments can be used to achieve the investment objective. However, investments in UCITS and UCIs may not exceed a total of 10% of the net assets. The Sub-Fund can take long and short positions using derivatives in order to achieve its objectives. The Sub-Fund aims to provide positive investment returns and to outperform the EURIBOR 1-month benchmark over a full market cycle.