The fund aims to achieve capital growth over the long term. The fund invests at least 70% (and normally 75%) of its assets, in equities of companies that are headquartered or do most of their business in less developed countries of Asia that are considered as emerging markets. The fund may also invest in money market instruments on an ancillary basis. The fund will invest less than 30% of its assets (directly and/or indirectly) in China A and B Shares (in aggregate). The fund will invest less than 5% of its assets in SPACs. In actively managing the fund, the Investment Manager considers growth and valuation metrics, company financials, return on capital, cash flows and other measures, as well as company management, industry, economic conditions, and other factors. The Investment Manager considers ESG characteristics when assessing investment risks and opportunities.