The Fund aims to achieve a positive absolute return through a combination of capital growth and income on your investment regardless of market conditions. The Fund seeks to gain at least 70% of any investment exposure to equity securities (e.g. shares) of companies incorporated or listed in the United States, Canada and Latin America (the “Americas”). This is achieved by investing at least 70% of its assets in equity securities, other equity-related securities and, when determined appropriate fixed income (FI) securities (such as bonds), money market instruments (MMIs) (i.e. debt securities with short-term maturities), deposits and cash. The equity-related securities include financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). At any one time, a substantial amount, or even all of the Fund’s assets may be held as cash to provide cover for the exposure created by the use of FDIs or to assist in achieving its investment objective. The FI securities and MMIs may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development) and will be investment grade (i.e. meet a specified level of credit worthiness) at the time of purchase. The Fund gains exposure to a wide range of equity securities in the Americas. However, the Fund intends to pursue a market-neutral strategy (i.e. the intention is not to take a view as to the direction the market will move when selecting assets). The investment adviser (IA) will use FDIs (including synthetic short positions where the Fund uses an FDI to benefit from the sale of an asset it does not physically own with the aim of buying it later at a lower price to secure a profit). The IA intends to generate market leverage via FDIs (i.e. where the Fund gains market exposure in excess of the value of its assets). The amount of leverage may vary. The IA has discretion to select the Fund's investments. Your shares will be non-distributing (i.e. dividend income will be included in their value). The Fund’s base currency is US Dollar. Your shares will be denominated in Euro. Your shares will be “hedged” with the aim of protecting them from exchange rate fluctuations between their denominated currency and the base currency of the Fund. You can buy and sell your shares daily. The minimum initial investment for this share class is $5,000 or currency equivalent.
