The fund seeks to achieve long term capital growth. The fund seeks to achieve long term capital growth through investing principally in companies operating in China (including Hong Kong) but may also invest in companies operating in other countries which, in the Manager’s opinion, conduct a material proportion of their business in China (including Hong Kong) or derive a material proportion of their earnings from activities in China. The Manager will only enter into derivative transactions for the purpose of efficient management of the portfolio and not for investment.