This is a Fund investing primarily in international equities. The Fund is denominated in Euro. The objective of the Fund is to seek long-term capital appreciation which is achieved through investment mainly in a diversified portfolio of securities listed (or about to be listed) or traded on any Recognised Exchanges worldwide. The Fund maintains a significantly high exposure to non-Euro currencies. The Fund mainly purchases equity securities of issuers listed or traded on Recognised Exchanges in any country. The Fund may also invest up to 10% of its total net assets in convertible bonds. The Fund may invest up to 10% of net assets in emerging markets which could be fully concentrated in Russia. The Fund may also invest up to 10% of its total net assets in convertible bonds. In addition, the Fund may purchase warrants, but their value may not exceed 10% of the total net assets of the Fund.