Presentation of the fund

This fund invests in developed and emerging market equities, bonds, currencies, money market instruments and commodities.

Benchmark

• None

Objective of the fund

The fund aims to achieve a return in excess of the risk-free rate of return over the minimum recommended investment horizon. To this end, the fund is managed on a total return basis, which allows the fund to invest its assets broadly.

Investment policy

The fund manager pursues an active investment policy, seeking to achieve higher returns than risk-free investments through developed and emerging market bonds, interest rates, currencies, equities and their derivatives, as well as commodity market instruments. In addition, the fund manager has the option of reallocating the fund's assets between asset classes based on its own expectations and of underweighting or overweighting risky asset exposures.

The fund's portfolio places greater emphasis on bond-type investments, alongside a typically smaller proportion of equity-type investments. The fund's investments do not have a specific geographical focus, but in general the Central European region and, more broadly, the European continent are preferred investment areas.

The fund manager makes investment decisions primarily on the basis of fundamental factors and, to a lesser extent, technical factors. In addition to traditional long positions, the fund manager may also take short positions, in which case it may also profit from price declines.