So investiert der Pictet International Capital Management - Graian US Core Equity Z2 USD Fonds: The objective of the compartment Pictet International Capital Management Graian US Core Equity Fund (hereafter the "Compartment") is to provide long-term capital appreciation by investing in US equities. The compartment will not have hard exposure limits. However, under normal market conditions the Compartment will hold long positions (either directly or through derivatives) worth between 70% to 140% of the net assets; and short positions (through derivatives) worth between 0% and 40% of the net assets. The Compartment is actively managed. The Compartment uses S&P 500 Net Total Return as its benchmark (the Benchmark is used only for comparison purposes, for the calculation of the performance fees and as part of the calculation of the global risk exposure (as detailed below). As such, the Compartment does not track any index and can deviate significantly from the Benchmark.