The H2O MultiReturns Fund (the “Fund”) seeks to outperform 1-month GBP LIBOR by 4% p.a. over a recommended investment horizon of 3 years, less the ongoing charges ratio. In order to meet its objective, the Fund seeks diversification of its assets among asset classes, markets, strategies and time horizons and does so within a risk allocation framework in the global fixed income, equity and currency markets.