The investment objective of the Fund is to achieve a positive absolute return over rolling 3-year periods after deduction of fees, irrespective of market conditions. Capital invested in the Fund is at risk and there is no guarantee that a positive return will be achieved over any 3-year rolling periods or any other time period. The Fund seeks to achieve the investment objective by taking long and short positions primarily (70%+) in equities or equity related instruments and related financial derivative instruments (derivatives) of UK companies of all market capitalisations.