Fund Description

The objective of this Fund is to provide its investors with long-term capital appreciation by implementing a strategy that takes long and short exposure to companies worldwide. In aggregate, the Fund expects to maintain a long or short net exposure to the equity market, ranging from -50% to +50% of NAV, which it may adjust over time in response to market conditions. The overnight compounded rate is used in the appropriate currency of a given Share Class of the Fund for comparison, including for performance comparison and as a Benchmark for the calculation of the performance fees. The Fund is actively managed, and the Sub-Manager''s discretionary powers are not constrained by any index and the Fund may bear little resemblance to the index.