Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in common stocks and other equity securities (or derivative or other strategic instruments with similar economic characteristics) of companies organized or with their principal place of business, or majority of assets or business, in emerging market countries represented in the MSCI EM Index. It may also invest in developed and frontier markets and in companies of any market capitalization, and may at times invest more than 20% of net assets in certain countries such as China. Newton Investment Management Limited uses a fundamental bottom-up process emphasizing quality, return on capital employed and governance, guided by global thematic research; holdings may be sold due to theme changes, company prospects, valuation, risk/reward, or profit-taking.