The Fund aims to provide a higher total return (the combination of capital growth and income), net of the Ongoing Charge Figure, than that of the MSCI Europe Index over any five-year period. At least 80% of the Fund is invested in equity securities and equity-related securities of companies across any sector and market capitalisation that are incorporated, domiciled or do most of their business in Europe, including the UK. The Fund has a concentrated portfolio and usually holds fewer than 35 companies. Sustainability considerations play an important role in determining the investment universe and assessing business models.