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The objective of the sub-fund is to achieve capital appreciation with average volatility by applying a strategy of assets selected for their financial quality, while at the same time having a high degree of management flexibility, both within the investment limits and in relation to the financial instruments used. However, the objective of the sub-fund must be achieved by investing at least 85% of its assets in the Universal Invest Global Flexible sub-fund of the Luxembourg SICAV Universal Invest ("Universal Invest Global Flexible"), which pursues an investment objective identical to that of the sub-fund. The current prospectus and the latest annual and semi-annual reports of Universal Invest Global Flexible are available at the registered office of the SICAV. The composition of the portfolio described below should, where applicable, be understood as referring to that of Universal Invest Global Flexible.
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