The investment objective of the Sub-Fund is to provide long term capital appreciation. The Sub-Fund aims to achieve the outlined risk-return profile by deploying a futures overlay strategy. The size of the futures position is determined on the basis of a quantitative trend analysis model. While the duration of the Sub-Fund may be hedged to zero, it will never be negative. The Sub-Fund invests its assets in government bonds denominated in Euro and may hold cash and cash equivalents appropriate to provide for redemptions or to meet other liquidity needs.