Investment objective summary

The Fund aims to provide long-term capital growth.

The Fund invests primarily in the shares of companies either in emerging markets (countries that are in economic terms less developed than the major Western countries) or with material links to these markets.

The Fund may currently invest up to 10% of its value in mainland China. The Investment Manager may decide to increase this limit to 20% but will give investors prior written notice before doing so.

Derivatives (financial contracts whose value is linked to the price of an underlying asset) may be used for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.