# Marketing Material - Data as of 31.07.2021 NAV per share USD 10.0114
Fund description	Risk profile

## Investment objective:
The investment objective of the Fund is to achieve capital appreciation. The Fund seeks to achieve this by gaining exposure, either directly or indirectly through the use of derivatives, to a range of asset classes including equities, fixed income securities (such as bonds), currencies, commodities and property. The Fund will not invest directly in property or commodities.
Opportunities:	

### A highly qualified and experienced management team actively manages the Fund on the basis of a fundamental valuation approach.

### The objective is to identify the potential investments that, in the Investment manager's opinion, are most attractive and to generate interesting and profitable opportunities for investors.

### The Fund invests in a broadly diversified investment universe and seeks opportunities for returns wherever they exist.
Risk factors:	
Counterparty Risk / Derivatives: If a counterparty to a financial derivative contract were to default, the value of the contract, the cost to replace it and any cash or securities held by the counterparty to facilitate it, may be lost.

### Credit Risk / Debt Securities: Bonds may be subject to significant fluctuations in value. Bonds are subject to credit risk and interest rate risk.
Credit Risk / Non-Investment Grade: Non-investment grade securities, which will generally pay higher yields than more highly rated securities, will be subject to greater market and credit risk, affecting the performance of the Fund.

### Interest Rate Risk: A rise or fall in interest rates causes fluctuations in the value of fixed income securities, which may result in a decline or an increase in the value of such investments.
Equity: Investments in equities (directly or indirectly via derivatives) may be subject to significant fluctuations in value. Operational Risk / Third Parties: Investments in other Funds have direct and indirect dependence on other service providers. The Fund may suffer disruption or loss in the event of their failure.
Liquidity Risk (Fund of Funds): Investments in other Funds are subject to the liquidity of those underlying funds. If underlying Funds suspend or defer payment of redemption proceeds, the Fund's ability to meet redemption requests may also be affected. Leverage Risk: Derivatives may multiply the exposure to underlying assets and expose the Fund to the risk of substantial losses. Capital at Risk: All financial investments involve an element of risk. Therefore, the value of the investment and the income from it will vary and the initial investment amount cannot be guaranteed.

Translation (ENFR, 2021-07-31):
# Documentation de marketing - Données au 31.07.2021 VNI USD 10,0114
Description du fonds	Profil de risque

## Objectif

### Consiste à générer une appréciation du capital. Le Fonds cherche à atteindre cet objectif en s'exposant, directement ou par le biais
d'investissement :
de dérivés, à une gamme de classes d'actifs incluant les actions, les titres de créance (notamment des obligations), les devises, les matières premières et l'immobilier. Le Fonds n'investira pas directement dans l'immobilier ou les matières premières.
Opportunités :	

### Une équipe hautement qualifiée et expérimentée gère activement le fonds en recourant à une approche d’évaluation fondamentale.

### L’objectif est d’identifier les investissements potentiels les plus attractifs de l’avis du gestionnaire ainsi que de générer des opportunités intéressantes et rentables pour les investisseurs.

### Le fonds investit dans un univers de placement largement diversifié et entend saisir les opportunités de rendement là où elles se présentent.