The Sub-Fund seeks to deliver a positive absolute return in all market conditions on a rolling 12 month basis (meaning a period of 12 months, no matter which day you start on). To achieve its investment objective, the Sub-Fund will invest primarily, meaning at least 75%, in shares of the range of sub-funds within Absolute Insight Funds p.l.c. (“AIF”), an Irish umbrella UCITS investment company the assets of which are also managed by the Investment Manager and/or in shares or units of other collective investment schemes operated by the ACD or an associate of the ACD and managed by the Investment Manager. The sub-funds of AIF and these other collective investment schemes will be absolute return funds which follow a number of different strategies.