This is a value long only fund. The Fund's investment objective is to realise total investment gains through investments in equities quoted on securities exchanges in Asia (excluding Japan). The Fund will have an absolute return orientation and will seek to deliver positive absolute returns over the medium to long term at a relatively low level of risk by an investment process that applies only fundamental analysis on bottom up basis. Investment performance will be generated through securities selection and portfolio construction, not market-timing or thematic top down methods. Stock selection criteria would include sound underlying business economics, competent and honest management and purchase prices at discount to the valuation of the equity securities. The investment time horizon is for the medium to long term i.e. three to five years or more. Targeted Annual Return: In excess of the inflation rate, long bond rate, country GDP growth with a further spread to make it interesting.