The Fund is designed to provide sophisticated investors with the opportunity to invest in positions capitalizing on macroeconomic and other trends, primarily in the G-7 markets. The investment objective of the Fund is to seek capital appreciation by allocating its portfolio to a combination of long and short equities, equity indices, currencies, interest rates, sovereign and corporate bonds, commodities, distressed securities, options and shares of investment funds under professional management, among others. The Fund may also allocate some or all of its portfolio to derivative instruments, which may include, but are not limited to, put and call options and futures on stocks, stock indices, currency or other assets the Fund may be holding in its portfolio. The Fund may also use derivative instruments for leverage purposes. Where appropriate, the Fund may take advantage of opportunities in the emerging markets and/or in any other markets. In addition to its global macro strategy, the Fund may invest a portion of its assets in a Brazil-only strategy pursued by the Investment Manager. This strategy incorporates a variety of long and short positions in debt, equity and commodity instruments, as well as an allocation to shares of other Brazil-related funds, in fixed-income securities or other debt instruments in Brazil and also in derivative instruments, which may include, but are not limited to, put and call options and future operations on stock, stock indices, currency or other assets.