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The investment objective of the Fund is to achieve long-term growth through capital appreciation of the underlying equity portfolio. It will achieve this objective by principally investing worldwide across regions, countries and sectors in shares of companies active in the real estate business (property companies). Investments may be made in equity securities, preference shares, debt securities convertible into common shares and warrants on transferable securities of such companies. Companies in the real estate industry may include property development companies, companies principally engaged in the ownership of income-producing property and specialised ownership vehicles such as publicly quoted property unit trusts provided that, to the extent the Underlying Entity invests in unit trusts which can be qualified as open-ended undertakings for collective investments, such investment will be limited to 10%.
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