The Fund aims to achieve its investment objective by primarily investing in high conviction listed equities (including but not limited to traded stocks and ETFs, as well as investments in other asset classes to manage risks. The Manager will adopt both bottom-up research and macro analysis to identify listed equities which have the best risk-reward ratios, as well as to construct the portfolio of the Fund with a balanced asset allocation to manage market risks and volatility. The target instruments and asset classes to be invested by the Fund include but not limited to equities, ETFs, fixed income products, options, commodities and currencies. The Fund may invest in instruments which may be rated or unrated or may be below investment grade without restriction. The Fund may invest in IPOs, primarily IPOs on the SEHK and China A-Shares offered on the SSE and SZSE through the Stock Connects. The Fund may also invest in financial derivative instruments, such as futures, options and swaps for hedging and investment purposes. The Fund’s investment exposure will be global and is not subject to any limitation on investing in any specific country, geographical region or industry sector.

The Fund will be subject to the investment restrictions set out in the SFC’s Code on Open-Ended Fund Companies, which currently provides that the Fund must not be a business undertaking for general commercial or industrial purposes. Subject to the above, the Fund has broad and flexible investment authority. In order to maintain flexibility and to capitalise on investment opportunities as they arise, the Fund is not required to invest any particular percentage of its portfolio in any type of investment or region, and the amount of the Fund’s portfolio which is invested in any type of investment, or which is weighted in different countries or different sectors can change at any time based on the availability of attractive market opportunities. There are no investment restrictions instituted by the Manager.