The Fund aims to achieve capital growth through exposure to a portfolio of equities from the semiconductor industry and income through the associated dividends and option premiums. In order to achieve its investment objective, the Fund will aim to invest at least 80% of its assets in a portfolio of global equities or equity related securities, such as global depositary receipts (GDR) and American depositary receipts (ADR), of companies from the semiconductor industry. In order to achieve its investment objective, the Fund will aim to seek additional income through the implementation of option income strategies based upon listed call options. The Investment Manager will then implement option strategies using listed call options on an underlying security to generate additional income. The two types of option income strategies which will be followed, will be either a traditional covered call strategy and a covered call spread strategy. The strategy adopted, will depend on market conditions and the ability to generate income on an underlying security. The fund will give priority to dividends, rather than to capital growth, and may at times distribute capital gains.