The prospectus states the Fund seeks consistent and positive returns across market cycles by allocating capital among three principal strategies (equity long/short, macro and fixed income, and credit), each run by Wellington Trading Teams. The Adviser reallocates capital among Underlying Strategies at its discretion using stress tests, correlation, volatility and drawdown analysis. The Fund trades long and short positions in global equities, sovereign and corporate debt, currencies and commodities, using futures, swaps, options, forwards, sell-buyback agreements and borrowing for leverage. Illiquid holdings are limited to 15% of net assets; commodity exposure runs through a Cayman subsidiary capped at 25% of total assets.