BW PORTFOLIO 20 is an actively managed defensive mixed fund designed to achieve attractive returns through a diversified selection of securities. The fund allocates up to 30% of its assets to equities and up to 30% to capital participations, while the remaining investments are spread across various other securities to ensure broad risk diversification. The management team actively selects and adjusts the portfolio holdings to outperform a chosen benchmark, and may also use derivative instruments to enhance returns or manage risks. This strategic approach allows BW PORTFOLIO 20 to invest in a wide range of assets, including those outside of the benchmark, aiming for consistent performance in different market conditions.