HC Sephira GEM Long Only UCITS Fund USD M Accumulating

The investment objective of the Fund is to produce returns in excess of the Benchmark. (MSCI TR Emerging Market Net USD Index.) The Fund seeks to achieve the investment objective by pursuing a diversified long-only equities and equity derivatives investment strategy with an Emerging Markets focus. The Fund seeks to achieve its objective through investing (under normal market conditions) at least 90% of the NAV in equity or equity-related securities of (i) large, mid and smaller capitalisation companies located in global Emerging Market countries, (ii) companies and other entities located outside the global Emerging Market countries carrying out business predominantly in the global Emerging Market countries (e.g. companies whose income is predominantly derived from any or all of such countries), and (iii) companies whose primary business is to invest in companies or other investment vehicles located in global Emerging Market countries or whose business is predominantly in global Emerging Market countries. The Fund may take long positions and such positions are expected to be within a net range of 90-100% long of the NAV. The Fund may hold up to 100% of the NAV in cash and cash equivalent assets in circumstances where, by way of example, it is necessary to support FDI exposure, or where market conditions may require a defensive investment strategy. The Fund will invest more than 20%, anticipated to be more than 90%, of the NAV in Emerging Markets and Frontier Emerging Markets.