Investment Approach

The Fund aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the MSCI Emerging Markets Index, the Fund’s benchmark index (the “Benchmark Index”).

The Fund is passively managed and the investment policy of the Fund is to follow a replicating strategy and to invest in a portfolio of equity securities that as far as possible and practicable consists of the component securities of the Benchmark Index. The Fund intends to replicate the constituents of the Benchmark Index by holding all the securities comprising the Benchmark Index in a similar proportion to their weightings in the Benchmark Index. The Benchmark Index measures the performance of large and mid-capitalisation stocks of a number of companies across emerging market countries which comply with the index provider's size, liquidity and free-float criteria, and is free float-adjusted market capitalisation weighted.

The Fund may engage in short-term secured lending of its investments to certain eligible third parties to generate additional income and to off-set the costs of the Fund.