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The Sub-Fund pursues a flexible investment policy and its portfolio may vary at any time, although the Investment Manager will endeavor to compose a portfolio which is balanced between equity and fixed income. The Sub-Fund may invest up to 10% of its net assets in other UCITS and/or UCIs. In addition to the aforementioned securities, the Sub-Fund may also invest in bonds whose valuation basis is based on the use of one or more derivative instruments in order to capture the risk profile associated with a particular market or the expected returns of that market, in accordance with the expectations of the Investment Manager.
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