CRUX ASIA EX-JAPAN F INC GBP

In accordance with the general investment objective of the Fund, the investment objective of the Sub-Fund is to produce returns and achieve long term capital growth through investment primarily in equity securities in Asia (excluding Japan) and Australasia. The Sub-Fund will not concentrate its investments in any country, market or sector. The Sub-Fund seeks to achieve its investment objective by investing at least 90% of its net assets directly or indirectly in equity securities and equity related instruments of companies that are listed and/or domiciled in Asia (excluding Japan) and Australasia or derive the majority of their revenues from business activities in this region. The Sub-Fund investments in the Asian region also include investments in China through Stock Connect, representing up to 70% of the total investments, if the manager considers it opportune. Investments in China may include investment in China A shares and in depositary receipts.