The investment seeks total return.
To implement this approach, the Adviser will take long and short positions in a range of securities, other instruments and asset classes to express its investment themes. The Adviser may implement these positions either directly by purchasing securities or (specifically in the case of short positions) through the use of derivatives. The portfolio's investments may be U.S. and non-U.S. dollar denominated. It may invest in real estate investment trusts ("REITs") and similar entities established outside the United States ("foreign real estate companies"). The fund is non-diversified.