Salus Alpha RN Special

Situations (VT Class)

Fund Investment Objectives

Salus Alpha RN Special Situations combines an opportunistic core portfolio of selected, fundamentally valued top companies (20% - 40% exposure) with positions in short- and medium-termed special situations (0% - 70% exposure). Employing a traditional stock-picker approach, the fund targets to achieve an absolute return independent of the development of the overall equity market. Special situations are for example acquisitions and bidding wars, changes in the capital structure, management changes, share buybacks, director's dealings, IPOs, capital increases, index changes or earnings surprises. The fund's inception date is March 22, 2010.