The objective of the BCV Systematic Premia Equity Opportunity Subfund is to generate capital gains with a lower average level of volatility than equities. This is achieved by investing in various risk premium strategies using long/short equity positions to provide additional sources of performance and diversification compared to the traditional market. As its exposure to the market is reduced, the portfolio managers may add a directional component by taking complementary positions on the major global stock indices. For holdings whose reference currency is not the same as the Subfund, currency hedging may be used to eliminate the risks associated with foreign exchange fluctuations.