It’s taking advantage of special situations, opportunities and secular themes to drive alpha and provide better risk-adjusted returns.

Opportunistic themes

• Both positive and negative corporate events, such as drug development approvals and crisis events like the BP gulf oil spill
  
• Political/regulatory changes such as energy policy, tax changes
  
• Financial accidents such as  US capital markets melt down in 2008, and the current Euro-zone fiscal events
  
• Natural events such as crop droughts and other weather damage

Secular themes

• Demographic
  
• North American infrastructure
  
• BRIC and emerging economics
  
• Global consumer spending trends
  
• Clean energy, global water supplies