The Sub-Fund's investment objective is to achieve long-term capital appreciation. The Sub-Fund seeks to achieve its investment objective by investing, directly or indirectly, primarily (i.e., at least 65% of its total net assets) in publicly traded common stocks, preferred stocks and convertible securities of companies located or with Substantial Ties to in India. On an ancillary basis, the Sub-Fund may invest in other permitted assets on a worldwide basis.