So investiert der PrivilEdge - Alpha Japan Smaller Companies SA JPY UH Accumulating Fonds: The Sub-Fund is actively managed in reference to a benchmark. The Russell/Nomura Small Cap Index (the "Benchmark") is used for performance comparison as well as for internal risk monitoring purposes, without implying any particular constraints to the Sub-Fund's investments. The Sub-Fund’s securities may at times be similar to those of the Benchmark but the security weightings are expected to differ materially. The Investment Manager may also select securities not included in the Benchmark in order to take advantage of investment opportunities.