The Sub-Fund's objective is to seek capital appreciation by investing in a range of diversified transferable securities and/or other liquid financial assets. The Sub-Fund will be mainly invested in Emerging Markets Transferable Securities which are equity or debt in nature. The Sub-Fund will seek to achieve its objective through equity and bonds issued by Emerging Market corporate and quasi-sovereign entities as well as in bonds issued by sovereigns. The Sub-Fund will also invest in investment companies permitting investments in a portfolio of equities listed in an Emerging Market country. The Sub-Fund will also invest in debt, debt in nature and other instruments issued by sovereign, quasi-sovereign and corporate entities. The securities will be denominated in Emerging Market local currencies as well as US dollars and other major currencies. Corporate entities must be either domiciled in or derive at least 50% of its revenue in or from one or more Emerging Market(s). The Sub-Fund may, on an ancillary basis, hold cash and invest in Money Market Instruments including in money market UCITS or UCIs denominated in US$ or other currencies. Investments made in UCITS and/or UCI may not in aggregate exceed 10% of the net assets of the Sub-Fund. The Sub-Fund may also be invested in financial instruments whose value derives from the value and characteristics of one or more underlying assets (derivatives) and engage in certain techniques for hedging purposes and efficient management of assets including total return swaps, repurchase and reverse repurchase agreements, subject to the limits in the Prospectus. The Sub-Fund primarily uses an active, macro top-down approach to investment management. Considering the recommended holding period of 5 years being compatible with a medium to long-term investment horizon, the performance of the Sub-Fund depends on the medium to long-term performance of the aforementioned investments.