Objective & Strategy

Objectives and Investment Policy The investment objective of the Sub-Fund is to achieve long-term capital appreciation by primarily investing in units of funds that provide exposure to equities issued by companies incorporated, headquartered or having their principal business activities in the United States. Investment in underlying funds will be made based on the examination of a number of factors including the investment policy and objectives, investment strategy and process, performance track record, team structure, and risk management. The manager uses in-house qualitative and quantitative techniques to evaluate, select and perform on-going monitoring of underlying funds and their investment managers. Throughout the process, underlying funds will be compared to other available opportunities in the market place. The Sub-Fund may also invest materially in funds managed with absolute return investment strategies and in money market instruments. The Sub-Fund may use derivatives to reduce various risks. The Fund is actively Managed. The Fund does not aim to track the performance of a benchmark. Portfolio composition is determined based on active and discretionary investment decisions and choices. There can be no guarantee that the investment objective will actually be attained and investors are explicitly warned that this Sub-Fund is not a capital guaranteed product. Investors can redeem their Shares on any business day in Luxembourg. Investors can ask for full or partial redemption of the Shares held. Recommended for retail investors
■ With a basic knowledge of investing in funds and no or limited experience of investing in the Sub-Fund or similar funds
■ Who understand the risk of losing some or all of the capital invested
■ Seeking to increase the value of their investment and provide income over the recommended holding period of 6 years This is a non-distributing unit class. Investment income is re-invested. Investors may sell on demand on any business day in Luxembourg.

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