The BCM STAR Picker Fund Limited aims to achieve long term capital appreciation and superior risk-adjusted returns with a lower volatility and low correlation to traditional equity and fixed income markets, while preserving capital, by investing in a basket of hedge funds. The Fund selects established and highly experienced managers, with long track records of consistently positive returns and strict risk guidelines. Because of their exceptional reputation, the underlying funds are generally closed to new investors; BCM STAR Picker therefore gives investors the opportunity to invest in hedge funds which would not be easily accessible otherwise. The Fund aims to be fairly concentrated, generally investing in no more than 30 underlying positions at any one time. Some themes can be diversified by using more than one fund but seen as a single position. This allows a higher degree of diversification, where needed. The individual funds are selected so as to have uncorrelated risk profiles and steady returns across a broad range of different investment strategies. The manager will occasionally allocate a small portion of the fund to new funds managed by experienced managers with niche strategies. The asset allocation is reviewed continuously to achieve superior risk-adjusted returns. The fund may leverage by up to 50% of its NAV.