The Fund aims to achieve a positive absolute return over rolling 12 month periods, regardless of market conditions, though an absolute return performance is not guaranteed over any time period.
The Fund seeks to achieve its objective by adopting a market neutral strategy. The Fund will typically hold pairs of long and short positions (typically 200% long and 200% short of the Fund’s total net asset value) in equities or equity related instruments of companies throughout the world, with the aim to minimise the effects of market exposure and benefit from future price divergence between long/short pairs identified through fundamental analysis. The Fund expects to maintain a typical net exposure in the range of -10% to +10%.
The Fund’s long positions may be held through a combination of direct investment and/or derivative instruments (such as options, futures, forwards, swaps and warrants), whilst the short positions are achieved entirely through derivative instruments.
In addition, in seeking to implement the Fund's investment strategy, manage market exposure and ensure that the Fund remains sufficiently liquid to cover obligations arising from its derivative positions, a substantial proportion of the Fund’s assets may at any time consist of cash, near cash, deposits and/or Money Market Instruments.
The Investment Manager may from time to time consider hedging currency and interest rates exposure, but will not generally enter into contracts involving a speculative position in any currency or interest rate.
The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested.
Potential investors must read the prospectus, and where relevant, the key investor information document before investing.
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