Sustainable, Responsible &/or ESG Policy:

The fund aims to provide capital growth and income of 3% per annum (before fees*) in excess of MSCI AC World (Net Total Return) index over a three to five year period by investing in equity and equity-related securities of companies worldwide which meet the Investment Manager’s sustainability criteria. The fund seeks to achieve its investment objective by investing at least 70% of its assets in a portfolio of equities and equity-related securities of companies worldwide. It focuses on companies that have certain "Value" and/or "Quality" characteristics. Value is assessed by looking at indicators such as cash flows, dividends and earnings to determine those securities which the Investment Manager believes have been undervalued by the market. Quality is assessed by looking at indicators such as a company's profitability, stability, financial strength and governance.

The Investment Manager applies sustainability criteria to the selection of the fund’s investments. This means that the Investment Manager takes into account when investing, among other things, whether a business is managed for the long-term, recognises its responsibilities to its customers, employees and suppliers, and respects the environment. The Investment Manager believes that companies demonstrating positive sustainability characteristics are better-placed to deliver growth and to improve returns over the long term. The Investment Manager also engages with companies held by the fund to challenge identified areas of weakness in environmental, social and governance (ESG) performance. The fund may invest in a range of investments including transferable securities, cash, deposits, collective investment schemes, warrants and money market instruments. The fund may also use derivatives to seek to achieve the investment objective and to reduce risk or manage the fund more efficiently.

(Source: Fund factsheet, April 2022)