Investment Manager
The Fund´s Investment Manager will seek to identify assets, which are not at present widely traded, for which no large or established market exists or which are priced at a level, which in the opinion of the Investment Manager undervalues the relevant assets.
Such assets may be the subject of future restructuring or renegotiation, which in the opinion of the Investment Manager will result in the upward revaluation of these assets.
Notwithstanding the above, the Investment Manager has full discretion to invest the Fund’s assets in a variety of securities, including equities, bonds, notes and shares in other investment vehicles and unlisted companies. Assets of the Fund may, to the extent deemed appropriate by the Investment Manager, be retained in deposit, call or current accounts or invested in short-term instruments such as commercial paper and certificates of deposit.
Hedging
The Fund will use an array of hedging strategies to seek to minimize exposures to interest and exchange rates, prepayment and market risks. There is no assurance that this objective will be achieved and investment results may vary substantially over time.
The Investment Manager has broad investment powers and maximum flexibility and is not bound by any fixed restrictions or guidelines in allocating the Fund’s assets, other than the restrictions set out below. The Investment Manager may at its discretion reallocate the Fund’s assets in response to changing market conditions. The Fund’s investment policy does not prohibit it from taking control of any underlying investments.
Without limiting the generality of the foregoing it is envisaged that parts of the Fund’s assets will be invested in other funds or investment vehicles which may then invest in underlying funds or investment vehicles and suchlike where such fund of funds and/or underlying funds may be managed by the Investment Manager or its associates or parties related to the Class A shareholder. For example, the Fund may subscribe for redeemable participating shares directly or indirectly in fund of funds which then may invest in underlying funds with investment objectives in place that are in line with the Fund’s investment strategy. Foreign investments into emerging markets are subject to local regulations.
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