The Fund is actively managed and, in order to achieve its investment objective, the Investment Manager will invest in a diversified portfolio of asset classes on a global basis by investing in the shares or units of collective investment schemes, being UCITS and ETFs (Target Funds), and exchange traded commodities (ETC), in a manner consistent with the UCITS Regulations and Central Bank requirements. The Target Funds which the Fund may invest in will be established in the EU. Such ETFs will also be authorised as UCITS. The Fund will seek to provide indirect exposure to equities within a range of 25% to 75% of net assets.