The Portfolio seeks long-term capital appreciation by investing primarily in a concentrated portfolio of equity securities of Japanese companies. The Portfolio will, under normal circumstances, invest at least two thirds of its net assets in a concentrated portfolio of equity and/or equity related Transferable Securities and Permitted Funds which provide exposure to companies that are domiciled in, or which derive the predominant proportion of their revenues or profits from Japan. The Portfolio will typically invest in 25-40 companies.