The investment objective of the Fund is to achieve long-term capital growth. shares of companies either in developing and emerging markets (countries that are in economic terms less developed than the major Western countries) or which carry out a significant proportion of their business activities in these markets. The Sub-Investment Manager incorporates environmental, social and governance criteria and seeks to exclude companies that are directly involved in i. adult entertainment, ii. coal production and power generation, iii. gambling, iv. tobacco, v. weapons production and companies on the Norges Bank exclusion list.