Permal Natural Resources Fund is a multi-strategy fund that pursues alternative investment strategies with a natural resources theme and can include long/short equity, commodity futures and physical commodities along with global macro strategies. The Fund currently invests in 22 sub-managers. Each of these managers employ their own strategy and style expertise while concentrating on natural resources. The sub-managers focusing on equity strategies invest in natural resource companies in either a specialized regional or on a global basis. AUM combines both currency classes.