Commodity Arbitrage Fund

The investment objective of the Sub-Fund is to maximize capital growth over the long term through an asset allocation geared to commodity-related securities, derivatives and financial instruments in general with high expected returns.

In order to achieve its Investment Objective, the Sub-Fund will primarily implement an arbitrage trading activity and will invest in commodity related instruments with a particular focus on derivative instruments listed on different exchanges in order to exploit potential inefficiencies in the commodity markets and in the exchanges where the Sub-Fund operates. The Sub-Fund will primarily operate on the London Metal Exchange and the Chicago Mercantile Exchange.