The CF Canlife Total Return Fund aims to provide positive total return, both relative and absolute, throughout varying market conditions. Capital is at risk and there is no guarantee that a positive return will be delivered over any one or any number of 12 month periods. The Sub-fund intends to meet its investment objective by permanently investing not less than 85% of its assets in units of the Putnam Total Return Fund. While it is envisaged that the Sub-fund will normally be fully invested in the Putnam Total Return Fund, the Sub-fund may also hold up to 15% of its assets in cash or near cash.