The Sub-fund aims to outperform (after deduction of costs) the MSCI AC Asia ex Japan Index, as stated in Sterling, by at least 2% per annum over rolling five-year periods. The Sub-fund will invest at least 90% directly or indirectly in shares of companies in Asia (excluding Japan) and Australasia, being those which are listed, incorporated, domiciled or conducting a significant portion of their business in Asia (excluding Japan) and Australasia. The Sub-fund will be actively managed and will invest in companies of any size and in any sector. The indirect investment will be through collective investment schemes (including those managed or operated by the ACD).