The investment objective of Sauren Global Defensiv (sub-fund or financial product) is to preserve capital and achieve the most continuous possible increase in value in the respective share class currency. In order to achieve the investment objectives, the sub-fund assets will be invested predominantly in units of open-ended target funds. Which in turn are mainly invested in equities, equities and bonds (mixed funds), bonds, convertible bonds, profit participation bonds, certificates or money market instruments.