Anlageziel

The fund seeks capital appreciation. The Sub-Fund shall invest at least 70% of its assets in equities of issuers established in Europe, directly or via listed derivatives. Such derivatives shall include, but may not be limited to, futures and options on indices or on single stocks. On an ancillary basis (i.e. less than 10% of its net assets), the portfolio may be invested in international equities and debt obligations, other than those referred to in the preceding paragraphs, of any financial duration, which shall be issued by sovereign states, supranational entities, corporate issuers, special purpose vehicles or other legal entities resident in OECD or other countries, without constraints as to the choice of the reference currency. The debt obligations need not be rated and may be non-investment grade without constraints in this respect.