The fund actively manages a global portfolio of biotechnology and healthcare equities. These companies have exposure to the development of BioPharmaceuticals and disease-modifying therapeutics, breakthrough 21st-century medical technologies (e.g., gene editing and mRNA), digital healthcare providing essential medical services, medical device innovators, and instruments and tools. It can also include companies that enable or facilitate services such as Clinical Research Organizations (CROs), Testing and Dental, Health Maintenance Organizations (HMOs), hospitals and drug stores/pharmacies, and animal healthcare. The portfolio may allocate up to 33% in call options and/or cash covered put options each month, such as placing option hedges on biotechnology indices, to lower the overall portfolio volatility. The portfolio will be rebalanced quarterly, at a minimum, and when the sub-advisor deems it necessary.