Fund Description

The fund seeks three sources of return: potential gains from long-short equity positions, overall equity market exposure, and tactical variation of net equity exposure, seeking to provide higher risk-adjusted returns with lower volatility compared to global equity markets. Under normal conditions it invests at least 80% of net assets in equity instruments and equity-related and/or derivative instruments, taking long positions forecast undervalued and short positions forecast overvalued using proprietary quantitative models. It may invest in companies of any size, generally in global developed markets, with no geographic or country limits. A tactical overlay manages beta via equity derivatives and foreign currency forwards, targeting 0.5 (typically 0.3-0.7), and it may hedge currencies.