The H2O MultiReturnsFund (the “Fund”) seeks to outperform 1-month GBP LIBOR by 4% p.a. over any 3 year period, before fees are deducted. There can be no guarantee that the investment objective of the Fund will be achieved over any 3 year period or any other period and your investment is at risk. Up to 100% of the Fund’s assets can be invested directly in bonds and money market instruments issued or guaranteed by governments and companies. These investments can be investment grade and non investment-grade. Up to 20% of the Fund’s assets can be invested in investment grade bonds which are backed by other investments.