The fund will make its investments based on active selection of regions and sectors, completely independent of index. The fund will take 35-50 positions, preferably in larger companies. The investment horizon for long positions will typically be 2-4 years, while the time horizon for short positions will typically be 6 months up to 2 years. The fund will be long-biased and have a positive outlook over a business cycle, with a typical net exposure of roughly 50-90%.