Fund strategy

To achieve long term total return by investing at least two-thirds of the Funds assets in equities and equity-related securities of companies active in the field of infrastructure related sectors, and which have their registered offices in an Emerging Market country; and/or, of companies which have the preponderance of their business activities in an Emerging Market country; and/or, of holding companies that have the preponderance of their assets in companies with their registered offices in an Emerging Market country. These sectors or industries consist of companies that obtain a substantial part of their sales and revenues from: energy and power, engineering and construction, electrical equipment, environmental services, materials, real estate development, resources, transportation and utilities. The Fund is actively managed. The Fund aims to outperform the MSCI Emerging Market Infrastructure Index (USD) benchmark before charges. The benchmark is also used as a reference point for portfolio construction and as a basis for setting risk constraints. In order to achieve its objective, the Fund will take positions whose weightings diverge from the benchmark or invest in securities which are not included in the benchmark.