PAF-World Equity Hedge is a fund of hedge funds investing mainly in equity long/short managers globally. The fund will also allocate to a smaller extent to other strategies in order to lower volatility and correlation to traditional asset classes. The fund targets equity market-like returns over a full cycle, limiting market volatility by half. The investment policy of the Asiasec compartment was modified on April 1st 2009 and the compartment is now called PAF-World Equity Hedge.Consequently, past performance, prior to April 1st 2009, has no direct link with the performance of the PAF-World Equity Hedge compartment. AUM reflects the aggregate of the various share classes and is denominated in CHF.