The investment objective of the Fund is to seek long-term total returns. The Fund will invest substantially all its assets through a "master-feeder" fund structure in the Wellington Commodities Fund of Wellington Management Funds (Luxembourg) II (Master Fund), an open-ended unincorporated mutual fund organised in Luxembourg under the 2007 Law. The offering memorandum relating to the Master Fund (Master Fund Offering Memorandum) is attached hereto as Appendix B and should be reviewed carefully along with this Offering Memorandum.