The Sub-fund seeks to achieve its objective by investing essentially in a flexible allocation to different assets classes including, but not limited to, equity, government bonds and corporate bonds, Money Market Instruments, globally as well as in time deposits. The allocation between those asset classes is mostly determined on the basis of macro-economic analyses, quantitative models and risk indicators. The Sub-fund’s investments may include, but are not limited to, equities and equity-linked securities, REITs, debt instruments of any kind, UCITS, UCIs, derivative instruments such as, but not limited to, index or single name futures, dividend futures, TRS, CDS and equity options. For the purposes of this Sub-fund, REITs shall mean equity securities of closed-ended real estate investment trusts. The Sub-fund exposure to Sub-Investment Grade Credit Rating securities may not exceed 50% of its net assets.