The Sub-Fund's objective is to seek capital appreciation by investing in a range of transferable securities and/or other liquid financial assets. The Sub-Fund aims to be mainly invested in equities and equity related instruments issued by corporate and quasi-sovereign entities located in Frontier Emerging Markets. The Sub-Fund will also seek to access the returns available from securities of other investment companies designed to permit investments in a portfolio of equity securities listed in a particular frontier market country or region, including exchange-traded funds. The Sub-Fund may also seek access to returns from related synthetic products of all types and denominated in any currency whose returns vary on the basis of the issuer's profitability. Frontier Emerging Market means any country included in the MSCI Frontier Markets Index and any other country which the investment manager determines from time to time. Corporate entities must be domiciled in or derive at least 50% of their revenue or profits from goods produced or sold, investments made or services performed in one or more Frontier Emerging Markets or that have at least 50% of their assets in one or more Frontier Emerging Markets. Equities and equity-related instruments issued by corporate entities that are corporate entities outside of Frontier Emerging Markets may not exceed 20% of the Sub-Fund's net assets.