To provide long term capital growth by investing primarily in a concentrated portfolio of Brazilian companies.
At least 67% of the Sub-Fund’s assets (excluding cash and cash equivalents) will be invested in equity securities of companies that are domiciled in, or carrying out the main part of their economic activity in, Brazil. The Sub-Fund’s portfolio is concentrated in approximately 25 to 50 companies. The Sub-Fund may use financial derivative instruments for the purposes of hedging and efficient portfolio management. More specifically, the Sub-Fund may invest in options, index swaps and index futures as well as in cash or cash equivalents to hedge against directional risk and market exposure. The net market exposure of the Sub-Fund will typically range between 80% and 100% of the Sub-Fund’s net assets.