The fund is a fund of funds and invests primarily in a diversified international portfolio of equity and fixed income funds (funds that invest in either stocks or fixed income instruments). Also other financial instruments can be used to achieve the investment objective. The fund uses active management to respond to changing market conditions by using amongst others fundamental and behavioural analysis resulting in dynamic asset allocation over time. The fund positioning can therefore materially deviate from the benchmark. The fund is actively managed against an investment profile of 45% bonds denominated in Euro, 45% global stocks, 5% global real estate stocks and 5% cash denominated in Euro. Measured over a period of several years we aim to beat the performance of the benchmark composed of the MSCI Europe (Net) (22.5%), MSCI North America (Net) (13.5%), MSCI Japan (Net) (4.5%), MSCI Emerging Markets (Net) (4.5%), JPMorgan EMU (45%), S&P Developed Property (Net) (5%) and Euribor 1M (5%). The benchmark is a broad representation of our investment universe. The fund may also include investments into securities that are not part of the benchmark universe. The fund strives to add value via three different approaches: (1) Selection within and between the different asset classes (stocks, bonds,...). (2) Selection of best-in-class third party investment funds and (3) Decide on portfolio diversification and risk management. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.