The investment objective of the Fund is to provide long-term growth through capital appreciation. Over the long-term, the objective of the Fund is to produce a gross return and a return-per-unit-risk that are each higher than the broad equity markets, with relatively low return correlations to most asset classes including equity, bond, real estate, commodity and currency markets. As a result, the Fund is expected to produce a good risk-return ratio as a standalone holding, and also provide risk reduction benefits through diversification when held within a larger investment portfolio. The Fund is categorized as "multi-strategy hedge fund". As such, the Fund is characterized by its ability to allocate capital based on perceived opportunities among a number of different hedge fund strategies. Through the diversification of capital among several different hedge fund strategies, the Portfolio Advisor seeks to deliver consistently positive returns regardless of the directional movement in equity, interest rate, commodity or currency markets. The added diversification benefits of investing in several hedge fund strategies reduces the risk profile of the Fund and helps to smooth returns, reduce volatility and decrease asset-class and single-strategy risks. |
