The Fund aims to deliver a level of return over rolling three year periods equivalent to cash (as measured by LIBOR) plus five per cent a year before fees and charges. There is no guarantee that a positive return will be achieved over this, or any period, and capital is at risk. The annualised volatility for the Fund is expected to be seven per cent per annum irrespective of general equity and bond market conditions. The Fund will seek to achieve its investment objective primarily through investment in exchange traded funds, transferable securities, and other regulated collective investment schemes. This may include schemes or funds managed by the ACD and/or an associate.