The investment objective of the Fund is to achieve maximum total return without excessive volatility and with low correlation to emerging markets equity and fixed income markets through investments made primarily in Peru, using a multi-strategy approach. The Investment Manager believes that economic reforms implemented in Peru in the 1990s, global demand for commodities and the recent strength and growth of the Peruvian private sector have created a series of investment opportunities that are not yet recognised by the capital markets. The Fund seeks to exploit these opportunities by investing at least 60% of the Fund in Peruvian securities. The Fund may invest in equity and equity-related securities, debt securities (of both government and private sector issuers), options, futures, commodities, currencies, swaps and other financial instruments. In managing the Fund, the Investment Manager will seek to capitalise on valuation changes of various asset classes due to improving or deteriorating company fundamentals, corporate, political or economic events, relative values and other factors. The Fund's investment strategies will include, but are not limited to, directional strategies and relative value and event driven strategies. The Fund may take long and short positions in securities and, in connection with its investments, may use leverage equal to the net asset value of the Fund. First year soft lock-up, 3%.