The objective of the Sub-fund is to deliver a positive absolute return over the medium to longer term in all market conditions. It will achieve this objective by investing in a portfolio of equities, equity related investments, fixed interest securities, cash and permitted derivatives. ""Equity related investments"" may include Depositary Receipts, convertible stocks and any other such investments which entitle the holder to subscribe for or convert into the equity of the company and / or where the share price performance is influenced significantly by the stock market performance of the company’s ordinary shares. Additionally the Sub-fund may invest in other forms of eligible transferable securities, deposits, money market instruments and undertakings for collective investment.
The Sub-fund may, subject to and in accordance with the UCI Law and applicable CSSF circulars, take long and short positions in markets, securities and groups of securities through derivative contracts.