The Portfolio’s investment objective is long-term capital growth. In seeking to achieve the Portfolio’s objective, the Investment Manager identifies equity securities that it believes have fundamentally lower volatility and less downside risks in the future. The Investment Manager uses its proprietary risk and return models as well as its judgment and experience in managing investment portfolios to construct a portfolio that seeks to minimize volatility while maximizing quality exposure. The Portfolio will predominantly invest in equity securities of companies in developed markets; however, the Portfolio is not restricted from purchasing equity securities in any country, including emerging markets.