So investiert der AVALORN - PARSUMO PARemerging Markets Equities Fund B USD Fonds: The investment objective of the Sub-Fund is to achieve capital growth with a low correlation to traditional market indices by investing in Emerging Market equity-linked securities. The Sub-Fund aims to have a low correlation to traditional emerging market indices by making use of the Investment Managers ranking process. This process allows the Sub-Fund to select stocks of the emerging market index that have similar characteristics to established stocks from traditional markets thus excluding stocks of the emerging market index which contribute to the higher volatility of the index and do not contribute in an appropriate way to the return of the index. Additionally the risk profile can change over time from having a low-risk profile that is very near to traditional markets towards the emerging market profile (during robust market conditions) during short, especially rewarding periods.