The objective of the Subfund is a long-term investment in a broadly diversified portfolio of insurancelinked securities, derivatives and various types of investments related to insurance risks. Investors should
view the Subfund as a long-term investment (i.e. at least three to five years).
This particular Subfund has a medium risk and return profile and focuses mainly on collateralised
reinsurance contracts mixed with securitised insurance linked instruments (e.g. catastrophe bonds) in
order to achieve the given liquidity profile.