Fund Information

The Company is a feeder fund into Permal Macro Holdings Limited (“Permal Macro”) (which was formerly called Permal FX Financial & Futures Ltd) certain of whose shares are listed on the Irish Stock Exchange. Accordingly, the Company’s investment objective and policy mirror that of Permal Macro and references to the Company’s portfolio are made on a look through basis to Permal Macro’s portfolio. The Permal Macro asset allocation policy is currently structured so as to target an annualised return over the medium term of approximately 8% to 12% with annualised volatility of 4% to 6%. Permal Macro seeks to diversify its portfolio through investment in a range of portfolio funds seeking to implement trading strategies in numerous US and international currency, futures, options, forward and other derivative markets.
The Company's shares are denominated in Sterling, which shares are matched by the Company's holdings of Sterling denominated shares in Permal Macro. The Permal Macro portfolio comprises predominantly US Dollar denominated investments. Permal Macro will, subject to the availability of appropriate foreign exchange and credit lines, engage in currency hedging in an attempt to reduce the impact on its Sterling class shares of currency fluctuations and the volatility of returns, which may result from such currency exposure.