The Lupus alpha All Opportunities Fund targets a lower volatility than a long-only strategy in European small & mid caps. Its investment strategy is composed of two components, which try to profit from market inefficiencies. The first component is a long/short approach on equities and pair trades in single stocks and sectors. In addition, the second component uses short- and midterm trading opportunities. Overall the Lupus alpha All Opportunities Fund provides the chance to profit flexibly from trends in equity markets.