so investiert der Areca SICAV-SIF - Thiron BB USD Acc Fonds: The investment objective of the Sub-Fund is to invest up to 100% of its assets into units of UCIs managed by East Alpha Ltd (or an affiliate thereof), (“Target UCIs”). To the extent the Sub-Fund’s assets are not invested in UCIs, and during periods in which the Board believes that economic, financial or political conditions make it advisable, or opportunities for capital appreciation are limited or for defensive purposes, the Sub-Fund may on an ancillary basis invest in short-term debt securities, hold cash or short instruments likely to benefit in a flight to quality scenario.