The Fund's objective is to maximise portfolio returns for each level of risk assumed by investing the appropriate portions of the portfolio in different markets at each point in time.The Fund may invest in markets worldwide and is not subject to any limitations regarding emerging markets or market liquidity. The investment in fixed income can be public and/or private and shall have a minimum investment grade rating (BBB-), with a maximum 25% being invested in issues with a lower rating. The portfolio's average turnover and exposure to the various assets will be adapted to the Investment Committee's expectations. The exposure to equities can be up to a maximum of 75%. Investment may be in any equities regardless of their market capitalisation.No thresholds have been set for maximum exposure to fixed income securities or currencies other than the euro.The Sub-Fund may also invest up to a maximum of 10% of its net assets in eligible ETFs, UCITS or other eligible UCIs pursuant to the UCITS directive.