Fund Description

The fund pursues its investment objective by allocating assets among four major asset classes (commodities, currencies, equities and fixed income). It gains exposure through several hundred futures contracts and related instruments, forwards, swaps and securities, invested in directly or via a subsidiary, and may also use ETFs or ETNs. With no geographic limits, including emerging markets, it uses a proprietary systematic quantitative process to seek to benefit from price trends across commodity, currency, equity, volatility, credit and fixed income instruments via long and short positions that may emphasize certain asset classes. The strategy may use leverage and frequent trading with high turnover. A significant portion of the fund's assets may be held in cash or cash equivalent investments with one year or less to maturity (Cash Equivalents), which earn income and can be held as unencumbered assets or serve as collateral for positions.