The sub-fund aims to provide long term total return by investing in a portfolio of Emerging Market equities. The sub-fund invests in normal market conditions a minimum of 90% of its net assets in equities and equity equivalent securities of companies which are domiciled in, based in, carry out the larger part of their business activities in or are listed on a Regulated Market in, Emerging Markets. The sub-fund may also invest in eligible closed-ended Real Estate Investment Trusts (“REITs”). The sub-fund uses a systematic investment approach and invests in companies according to their economic scale. The chosen measure of economic scale is a company’s contribution to Gross National Product (“GNP”) which is also referred to as “Value Added” - the difference between a company’s outputs and inputs.