The investment seeks long-term capital appreciation with an emphasis on absolute returns and low sensitivity to traditional financial market indices such as the Standard & Poor's 500® Index. The fund’s investment adviser, has responsibility for allocating fund assets across strategies and investment styles that the adviser believes are complementary and, when combined, will produce long-term risk-adjusted returns. The adviser considers long-term risk-adjusted investment returns to be those that do not incur a permanent loss of capital over a full market cycle.