Fund Description

The fund invests, under normal circumstances, at least 80% of net assets plus any borrowings (measured at purchase) in a portfolio of equity investments in emerging country issuers, including ETFs, futures and similar instruments. It typically maintains investments in at least six emerging countries, with allocations driven by assessments of upside potential, downside risk, relative attractiveness and effects on sector and industry weightings. Security selection follows a fundamental process with strong valuation discipline and may integrate ESG factors. It may invest up to 20% in certain emerging-market fixed income and developed-market equity and fixed income. It is non-diversified and is measured against the MSCI Emerging Markets Index (Net, USD, Unhedged).