The investment seeks long-term capital appreciation. The fund invests in long and short positions in exchange-traded futures contracts across the broad asset classes of equities, fixed income, and currencies. The sub-adviser expects, under normal circumstances, to collateralize its derivative investments, for liquidity purposes, or to enhance yield, to invest a large portion of the portfolio in investment grade debt securities. It may hold fixed income instruments of varying maturities, but that have an average duration of less than one year. The fund is non-diversified.