The investment objective of the Company in relation to GAM STAR (LUX) – GALENA COMMODITIES (“GALENA COMMODITIES”) is to indirectly participate in the growth potential of the international commodity and futures markets and thus to achieve long-term capital growth. For this purpose, GALENA COMMODITIES mainly invests in financial derivative instruments whose underlying assets represent several commodity indices, which may also be commodity sub-indices (“Benchmark Commodity Indices”). GALENA COMMODITIES may also use certificates and structured products on Benchmark Commodity Indices and/or on individual commodities. As a result, it is possible to actively vary the exposure of GALENA COMMODITIES to different commodity categories by combining investments in different Benchmark Commodity Indices and additionally by over- or underweighting Benchmark Commodity Indices through long positions or synthetic short positions, according to the assessment of the market situation.