To provide long-term capital appreciation and income, primarily through investment in a portfolio of equities of energy companies worldwide. The Fund is mainly invested in equity and equity related securities issued by energy exploration and production (E&P) companies worldwide. The market value of many oil exploration and production (E&P) companies discounts an oil price that is well below the long-term future price of that oil, as can be contracted on the different commodities exchanges. This disparity creates an investment opportunity. Due to the concentration of the portfolio on one single sector the Fund has higher than average volatility. Currencies are hedged back into EUR only when it is considered appropriate to do so. AUM reflects the aggregate of the various share classes and is reported in EUR. Performance up to May 31, 2007 is that of the `SIA LTIF Natural Resources' in EUR restated in CHF.