Obiettivo del fondo

The investment objective of the Sub-Fund is to achieve long-term capital appreciation. The Fund seeks to achieve its investment objective by primarily investing in Underlying Funds. The Sub-Fund may invest in Underlying Funds that provide exposure to equities issued by companies incorporated anywhere in the world, in Underlying Funds with exposure to investment grade and below-investment grade debt securities of companies and governments issued anywhere in the world, in Underlying Funds with exposure to money market instruments, and in Underlying Funds that are managed with absolute return/alternative investment strategies, including in Underlying Funds with indirect exposure to commodities. 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 Manager actively manages the weighting of the Net Asset Value of the Fund between the Underlying Funds. The Sub-Fund may also invest in exchange traded commodities (“ETCs”). The Sub-Fund may use derivatives to reduce various risks, for hedging and for investment purposes.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 who are willing to accept a high level of volatility
■ This fund may not be appropriate for investors who plan to withdraw their money within 5 years This is a non-distributing unit class. Any investment income is re-invested. Investors may sell on demand on any business day in Luxembourg.

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