The objective of Chahine Funds - Equity Europe Smaller Companies (referred to herein as the "Sub-Fund") is to achieve long-term appreciation of its capital and to outperform the European Small Cap markets, through the use of a sophisticated quantitative model to identify the "stars" performers. The Sub-Fund shall invest in listed equities that are listed, incorporated or headquartered in an EU member state, in the United Kingdom, in Norway or in Switzerland. These companies must be covered by the research of at least one financial analyst. Their capitalization must be equal or less than the company having the greatest market capitalization in the MSCI Europe Small Cap Index. Their capitalization must also exceed EUR 50,000,000 and the portion of equities whose market capitalization is below EUR 300,000,000 shall not exceed 30% of the net assets of the Sub-Fund. The investment universe must be updated at least on a quarterly basis to take into consideration newly listed equities as well as any change in company coverage intensity or capitalization. The Sub-Fund must constantly invest at least 80% of its net assets in equities which are part of the universe defined above. However, a maximum of 10% of the net assets of the Sub-Fund can be invested in company stock whose market capitalization is below EUR 50,000,000 or company stock whose market capitalisation is greater than the company having the greatest Market capitalization in the MSCI Europe Small Cap Index..