The investment objective of the Sub-Fund is to seek stable returns with a low correlation to traditional markets and a target annualised volatility comprised between 5% and 10%, under normal market conditions (it being understood that the Sub-Fund realised annualised volatility could be higher or lower). To achieve this investment objective, the Sub-Fund will implement an investment policy seeking to capture premia linked to several risk/style factors across different asset classes ("Alternative Premia"). The asset classes to which the Sub-Fund will gain direct or indirect exposure include: equities, credit, interest rates, currencies and commodities. The Sub-Fund will seek exposures to the most scalable Alternative Premia and is not expected to carry significant directional exposures to the main traditional asset classes (equities, government bonds, credit). The Sub-Fund's portfolio will be allocated to different building blocks (several risk/style premia for each asset class) so as to deliver a recurrent return through diversification. Such allocation will evolve over time as a function of perceived market opportunities and risks. Within each asset class, risk/style premia will be captured by building long and short positions, through the use of financial instruments (including without limitation: transferable securities, money market instruments, structured securities embedding derivatives, index trackers, and units of other collective investment schemes) and financial derivative contracts dealt on regulated markets or over the counter (including without limitation: equity futures, bond futures, credit default swaps, Total Return Swaps, currency forwards, non-deliverable forwards, options and variance swaps).