The Manager in selecting collective investment schemes for the portfolio will aim to protect capital and generate moderate income growth over the long term while outperforming its benchmark over a three year rolling period. It will seek to capture relative value opportunities by switching between asset classes and will further focus on manager selection opportunities. In order to achieve this objective the Assetbase Global Flexible Prescient Fund of Funds will, apart from assets in liquid form, consist solely of participatory interest in collective schemes or similar schemes in international equity, bond, money market and property markets which will be constructed within a moderate to high risk framework. The asset allocation will be managed actively. The underlying collective investment schemes are permitted to invest in listed and unlisted financial instruments in line with conditions as determined by the Registrar from time to time.