The Henderson Agricultural Fund primarily invests in global exchange traded soft commodity and agricultural derivatives and securities, with a focus on relative value and other trading strategies.
The fund may use but will not be limited to the following range of investment strategies: 1) Relative Value Trading (e.g. calender spreads, cross commodity spreads and cross market spreads): comparing contract values across regions, time frames or contract types, looking for mis-pricing, semi-arbitrage opportunities and relative values between contracts rather than changes in the absolute value,
2) Option Trading: a variety of directional and non-directional options strategies to exploit inefficiencies within and across the different commodities option markets, and 3) Directional Trades: positions based on significant events including major crop reports, droughts, frosts and excess moisture or structural inefficiencies such as supply shortages. AUM reflects the aggregate of the various share classes and is denominated in USD.