The objective of this sub-fund is to provide its investors with capital growth, while having a volatility lower than that of the stock markets in which it is invested. The sub-fund's assets consist mainly of equities and fixed-income securities (including all types of bonds) and money-market instruments, of issuers whose registered office is in Europe or the United States. The sub-fund may also invest in time deposits and hold cash in an ancillary capacity. Exposure to these different asset classes will be according to the market assessment made by the Sub-Management Company and will not be subject to particular limits other than those set by the investment restrictions. The sub-fund will not invest more than 10% of its net assets in units of UCITS and/or other UCIs and may invest in Russian equities and other similar instruments in accordance with the provisions of paragraph 17 of Annex I of the unabridged prospectus. The sub-fund may also invest in derivative financial instruments in order to manage its portfolio efficiently and to protect its assets and liabilities but also by way of a principal investment. The sub-fund may in particular, within the limits of the investment restrictions, make use of options, forward contracts, credit default swap transactions and other derivative products traded on an organized market or over-the-counter, as well as over-the-counter swap contracts on all forms of financial instruments and Total Return Swaps. Minimum investment is 1 euro.