The investment objective of the Sub-Fund is to generate long-term capital appreciation with principles designed to minimize the risk of capital loss. The performance of the Sub-Fund may vary substantially on a monthly, quarterly and annual basis. There can be no assurance that the Sub-Fund will achieve its Investment Objective. The Sub-Fund may target either a long or short exposure to the following asset classes: equities (may include large cap, mid cap or small cap, and may be listed or unlisted), corporate and government bonds (of at least investment grade, may be fixed or floating, and may be listed or unlisted), interest rates, currencies, and commodities; the ("Target Asset Classes"). The Sub-Fund may target exposure to changes in the price of the Target Asset Classes (e.g. by taking a short exposure to equities when it is expected that the price of such equities will fall), or the Sub-Fund may target exposure to the mathematical derivatives of such price changes (such as the volatility, variance, correlation or dispersion of the prices of the Target Asset Classes). For example, the Sub-Fund may enter into an FDI with a counterparty and take an exposure, not on whether the price of an asset will go down, but on whether the volatility of the movement in the price of the asset will be higher at a point in time in the future.