The investment strategy of the Scheme is as follows: The Scheme will be a diversified equity fund which will invest predominantly in equity and equity related securities of companies domiciled in India or overseas. It will invest predominantly in equity and equity related securities with focus on riding business cycles through dynamic allocation between various sectors and stocks at different stages of business cycles in the economy. Business cycles in an economy are typically characterized by the fluctuations in economic activity measured by various Macro economic factors including but not limited GDP growth, Fiscal deficit, IIP, interest rates, inflation and other macroeconomic variables. A business cycle is basically defined in terms of periods of expansion and contraction. During expansion, an economy experiences an increase in economic activity as evidenced by real GDP growth, industrial production, etc whereas during contraction, the pace of economic activity slows down.