Anlageziel

The investment objective of the Subfund is to obtain the highest possible capital appreciation in its reference currency while taking account of the principles of risk-spreading, security of capital and liquidity. This Subfund aims to outperform the return of the MSCI EM (NR) benchmark. The Subfund is actively managed. The benchmark has been selected because it is representative of the investment universe of the Subfund and it is therefore an appropriate performance comparator. The majority of the Subfund’s exposure to securities will not necessarily be components of or have weightings derived from the benchmark. The Investment Manager will use its discretion to significantly deviate the weighting of certain components of the benchmark and to significantly invest in companies or sectors not included in the benchmark in order to take advantage of specific investment opportunities. It is thus expected that the performance of the Subfund will significantly deviate from the benchmark.