•The Fund has a policy to invest in the investment units of an offshore fund named Pictet - Short-Term Money Market USD (the Master Fund), domicile in Luxembourg and under UCITS. The masterfund invests in money market instruments, in deposits and in bonds that meet the applicablecriteria set in “The Regulation (EU) 2017/1131 on money market funds.” The reference currency ofthe Master Fund is not necessarily identical to the Fund’s investment currencies (USD). Theobjective is to provide a return in line with money market rates. The master fund is established byPictet Asset Management Ltd. and the Fund will invest on average at least 80% of its NAV in eachaccounting period.
•The Fund will not invest in derivatives. Additionally, the fund will not hedge against the risksassociated with foreign exchange rates resulting from investments in foreign markets.
•Investment strategy aims to achieve performance in line with the Master fund. The Master fund isActive Management strategy, the objective is to provide a return in line with money market rates.