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The AE Invest Ci Global Diversified Equity Feeder Fund is a Feeder Fund. The investment objective of the portfolio is to provide long term capital growth by providing investors with exposure to an international collective investment scheme portfolio comprising a diversified mix of global exposure to various asset classes.
The Global Diversified Equity Fund, the target portfolio, will invest directly or indirectly in a combination of lower risk assets such as cash and/or cash equivalents, global bonds and higher risk asset classes such as global equities, commodities and global property. Depending on the economic cycle, the Fund may increase the exposure to higher risk assets up to 100% in anticipation of and during periods of expansion and similarly reduce the exposure to higher risk assets to as low as 70% in anticipation of and during periods of contraction.
Overall, this blend of asset classes is expected to be high in terms of the risk/return scale. In addition, the Fund is not focused on any specific geographical area, industry or sector. The target portfolio intends to invest in transferable securities in the form of global equities (such as shares and common stock) and global equity related securities (securities with equity characteristics or conferring the right to acquire equity securities, such as depositary receipts and preference shares), real estate investment trusts ("REITS") and global bonds (which may be government and/or corporate, fixed and/or floating, rated and/or unrated) which are listed on Recognised Markets. Investment in REITS will not exceed 25% of the Net Asset Value of the Fund. The target portfolio may also invest up to 100% of its Net Asset Value in cash and/or cash equivalents (including US Treasury Bills, cash deposits, corporate commercial paper and certificates of deposit) and/or short -term money market instruments (including US Treasury Bills, corporate commercial paper, and certificates of deposit) for cash flow purposes or as part of a temporary defensive strategy or where the Investment Manager believes that economic, financial and political conditions make it advisable to do so.
The target portfolio may invest up to 100% of its Net Asset Value in the units and/or shares of Underlying Funds which provide exposure to the asset classes in which it can directly or indirectly invest as outlined above, subject to the maximum exposure of any one Underlying Fund not exceeding 20% of its Net Asset Value and subject to the target portfolio not investing more than 20% of its Net Asset Value in unregulated funds.
Investments to be included in the AE Invest Ci Global Diversified Equity Feeder Fund will, apart from assets in liquid form, consist solely of participatory interests of only one collective investment scheme portfolio, namely the Global Diversified Equity Fund, being a sub-Fund of Ci Global Investments RIAIF ICAV, an open-ended umbrella type investment company with segregated liability between Funds, authorised by the Central Bank of Ireland.
The AE Invest Ci Global Diversified Equity Feeder Fund may to the extent that assets in a portfolio are exposed to exchange rate risk, enter into financial transactions for the exclusive purpose of hedging such exchange rate risk subject to the conditions and the limits stipulated in the Act, and the Regulations, thereto.
The Trustee shall ensure that the investment policy set out in this Supplemental Deed is carried out.
For the purpose of this portfolio, the Manager shall reserve the right to close the portfolio to new investors on a date determined by the Manager. This will be done to efficiently manage the portfolio in accordance with its mandate. The Manager may, once a portfolio has been closed, open that portfolio again to new investors on a date determined by the Manager.
Nothing in this supplemental deed shall preclude the Manager from varying the ratios of securities or assets in liquid form in changing economic environment or market conditions, or to meet the requirements in terms of legislation and from retaining cash or placing cash on deposit in terms of the deed and this supplemental deed.
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