Anlageziel

The investment objective of the sub-fund in the medium term, the sub-fund aims to generate an increase in value, with interim fluctuations in value tolerated. The sub-fund will be actively managed and is not linked to a benchmark. To achieve its investment objective, the sub-fund uses derivative strategies to exploit volatility on the global capital markets (volatility strategies), particularly on the equity markets, combined with a base portfolio. The volatility strategies make use of structural or temporary inefficiencies in the derivatives markets. These inefficiencies include the fact that the volatility expected in derivatives in the future ("implied volatility") is often higher than the volatility realised over time. The Fund's base portfolio is aimed at generating value contributions in the amount of the short-term bond market.