The Fund's management objective is to invest a portion close to 100% of its net assets in the shares of the MASTER UCITS. As an ancillary matter, the Fund may also hold cash and/or invest in financial contracts for hedging purposes. The Fund's performance will differ from that of the MASTER UCITS due to the costs incurred by the Fund, any retrocessions received by the Fund (in respect of its investments in the MASTER UCITS) and/or due to the Fund's holding of cash. The expected level of the ex-post tracking deviation with respect to the benchmark indicator of the MASTER UCITS is a maximum of 1% under normal market conditions