The objective of the Sub-Fund is to increase the value of the Shareholder's investment over the long term (5 years or more). The Sub-Fund invests at least 80% (excluding ancillary liquid assets, eligible deposits, money market instruments and money market funds), in equities of companies in emerging markets. This includes investment in equities and equity-related securities of emerging market companies and non-emerging market companies that are listed or do most of their business in emerging markets. Equity-related securities can include ADRs, GDRs, options on equities, warrants, participation certificates and profit sharing certificates, among others. The Sub-Fund does not buy equity warrants or exchange-traded convertible securities but may hold any it receives in connection with equities it owns. The Sub-Fund may also invest in shares or units of UCITS or other UCIs.