The use of the term absolute return is meant to distinguish the Funds goal and investment strategies from those of most other mutual funds available in the marketplace. Most other mutual funds available in the marketplace seek to generate relative returns. In general, most mutual funds seek to produce returns that are better than its peers, its fund category, and/or the market as a whole. This type of fund management is referred to as a relative return approach to fund investing. The Fund follows an absolute return strategy that seeks positive returns over a reasonable period of time regardless of market conditions or market direction. The Fund is designed to pursue absolute returns by investing in a diversified portfolio of uncorrelated absolute return investment strategies that typically produce less volatile returns than general securities markets.
What are absolute return strategies?