This sub-fund enables shareholders to invest in a portfolio of global equities in the biotechnology sector. The assets will be invested principally in the equities of companies operating in this sector. The sub-fund may, on an ancillary basis, hold equities, securities equivalent to equities (in particular convertible bonds, warrants, investment certificates) and cash, deposits or money market instruments maturing within 12 months. The sub-fund may invest no more than 10% of its assets in funds. For the purpose of good portfolio management, the sub-fund may also use financial instruments and techniques (notably options, futures, swaps and forwards).