Investment Approach

The Fund aims to provide a return on your investment (generated through an increase in the value of the assets held by the Fund) over the long term (5 or more consecutive years beginning at the point of investment). The Fund invests at least 70% of its total assets in the equity securities (e.g. shares) of smaller companies incorporated, or listed on developed markets globally which the investment adviser (“IA”) considers to have above average growth prospects. Smaller companies are those whose market capitalisations are similar to that of companies in the MSCI World Small Cap Index (the “Index”) at the time of the Fund’s investment. The market capitalisation of a company is the share price of the company multiplied by the number of shares issued. The Fund has the flexibility to invest outside of the asset class set out above. The Fund may continue to hold companies that grow beyond the status of a smaller company should the Investment Manager deem such holdings to be in the best interest of investors.