The Fund seeks higher returns in US dollars than the MSCI Emerging and Frontier Markets Africa Index, without a greater risk of loss. The performance benchmark (‘Benchmark’) is the MSCI Emerging and Frontier Markets Index including income, measured in US dollars (the ‘MSCI Index’). The Fund does not seek to mirror the returns of the MSCI Index and may deviate meaningfully from the Benchmark in pursuit of superior returns.

The Fund invests in a relatively focused portfolio of companies with significant business interests in Africa regardless of location of stock exchange listing (‘African Equities’). The equities will be selected for their perceived superior fundamental value relative to their share price. The Investment Manager believes this investment approach delivers superior returns over the long term at a lower risk of loss.

The Fund is suitable for investors seeking exposure to African equity markets. The returns of the Fund will be sensitive to the broader trends affecting Emerging and African stock market and currency returns.