So investiert der VanEck - Global Gold UCITS R1 Fonds: The investment objective of the Sub-Fund is to achieve long term capital appreciation. The Sub-Fund intends to realise its investment objective by investing substantially all of its assets into a no management fee bearing share class (the S Share Class) of LO Funds – World Gold Expertise, sub-fund of Lombard Odier Funds being a Luxembourg regulated UCITS (the Master Fund). In compliance with the relevant provisions of the UCITS Regulations, the Sub-Fund will at all times invest at least 85% of its assets in shares of the Master Fund. The Sub-Fund may hold up to 15% of its assets in ancillary liquid assets, cash, cash equivalents and money market instruments, which may include certificates of deposits issued by banks, treasury notes, depositary receipts, freely transferable promissory notes and short term bank deposits.