# Marketing Material - Data as of 31.08.2020 NAV per share USD 11.7535
Fund description	Risk profile

### The investment objective of the Fund is to provide consistent above-average, risk-adjusted returns on capital with a low long term

## Investment objective:
correlation with traditional asset classes, such as equities and bonds. The Fund seeks to achieve this objective using primarily financial derivative instruments to gain exposure directly or indirectly to the four basic asset classes in accordance with the Co- Investment Manager’s risk premia strategies, i.e. equities, fixed income, currencies and 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 gives investors easy access to the emerging markets. Many of these countries may offer attractive potential returns in various asset classes.
The Fund invests in a broadly diversified investment universe and seeks opportunities for returns wherever they exist. The Fund gives access to the use of systematic models offering a broad range of investment opportunities.
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.
Leverage Risk: Derivatives may multiply the exposure to underlying assets and expose the Fund to the risk of substantial losses. Credit Risk / Debt Securities: Bonds may be subject to significant fluctuations in value. Bonds are subject to credit risk and interest rate risk.

### 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.

### Market Risk / Emerging Markets: Emerging markets will generally be subject to greater political, market, counterparty and operational risks.

### 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 (ENES, 2020-08-31):
# Documentación de marketing - Datos al 31.08.2020 Valor liquidativo neto USD 11,7535
Descripción del fondo	Perfil de riesgo
Consiste en generar una rentabilidad constante sobre el capital ajustada al riesgo superior a la media, con una correlación a largo

## Objetivo de inversión:
plazo reducida con las clases de activos tradicionales, tales como los valores de renta variable y los bonos. El Fondo tratará de lograr este objetivo utilizando principalmente instrumentos derivados financieros con el objeto de ganar exposición, de manera directa o indirecta, a cuatro clases de activos básicas de conformidad con las estrategias relativas a las primas de riesgo del Cogestor de inversiones, a saber, la renta variable, la renta fija, las divisas y las materias primas.
Oportunidades:  
El fondo lo administra un equipo de gestión experimentado y cualificado siguiendo un enfoque de valoración fundamental.
El objetivo consiste en identificar las posibles inversiones que, en opinión del gestor de inversiones, resulten más atractivas y
generen oportunidades interesantes y rentables para los inversores.
El fondo permite a los inversores acceder fácilmente a los mercados emergentes. Muchos de estos países pueden ofrecer una rentabilidad interesante en distintas clases de activos.
El fondo invierte en un universo de inversión muy diversificado y busca oportunidades de rentabilidad allá donde las haya.
El fondo proporciona acceso al uso de modelos sistemáticos que ofrecen una amplia variedad de oportunidades de inversión.