The Fund seeks to deliver a positive absolute return (more than zero) over the long term by taking long, synthetic long and synthetic short positions, primarily in European equities and equity related derivatives.he Fund is considered to be actively managed in reference to the benchmark in the performance table by virtue of the fact that it uses the benchmark(s) for performance comparison purposes. The benchmark are not used to define the portfolio composition of the Fund and the Fund may be wholly invested in securities which are not constituents of the benchmark.