The MST European Absolute Return Fund (MSTEARF) is designed to achieve absolute returns of between 8-10% per annum irrespective of market conditions. The investment team achieves this objective by taking long and short positions in listed European equities. The Fund invests (both long and short) primarily in large cap European companies which are liquid. Investment positions are traded actively to benefit from shorter term stock price action and to reduce risk. The Fund maintains a low net exposure to equity markets and seldom employs leverage. AUM reflects the aggregate of the various share classes and is denominated in USD.