The Fund seeks to achieve an attractive return on capital while simultaneously attempting to limit the risk of capital loss. This investment objective shall be achieved primarily through investment in open-ended undertakings for collective investment (target funds) which themselves seek exposure to equities, fixed income securities, real estate, commodities, currencies, insurance derivatives and hedge funds. Where there is no suitable target fund available, the Fund may also invest directly in equities, fixed income securities and currencies and may use derivatives to gain indirect exposure to equities, fixed income securities, real estate, commodities and currencies.