The investment objective of the Fund is to provide Shareholders with a low cost, diversified exposure to global markets, currencies and asset classes targeting a total annualized net return in excess of the benchmark over any 5 year rolling period while preserving capital over any 3 year rolling period.

Where appropriate the Fund may invest in hedge instruments to reduce short and medium term volatility. The Fund's investment exposure may take the form of funds or other investment instruments.

It is proposed that the Fund will generate absolute returns in USD by investing in diverse opportunities across Europe and Africa.

The Fund will combine the following initial strategies that offer diversification as follows:

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Fundamental diversified long/short equities

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Focused on mid cap listed equities

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Resources long/short equities

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African macro

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Will invest in currencies, fixed income securities and commodities of countries undergoing rapid economic growth as a result of structural reforms, increased infrastructure investment as well as improved fiscal positions through the use of derivatives.

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Diversified quantitative variable bias

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Focused on the most liquid African equities through the use of pairs and basket trading strategies

The Fund may add additional strategies in time.