The objective of this fund is to partially participate in the upside potential of a well known European equity index, while trying to maintain on a daily basis 90% of the highest Net Asset Value reached in the preceding 365 calendar days. However this does not constitute a guarantee of capital preservation. The manager aims to achieve this objective through a dynamic allocation between equity and fixed income and / or money market instruments. Also other financial instruments can be used to achieve the investment objective. The allocation to equities or equity related instruments will vary over time and depend on market circumstances.