The investment objective of the Fund is to provide investors with a total return, taking into account both capital and income returns, which reflects, before fees and expenses, the return of the MSCI Pacific ex Japan Index. The Index is designed to reflect the performance of large and mid-capitalisation companies across developed market countries in the Pacific region excluding Japan which comply with MSCI's size, liquidity and free float criteria. The investment policy of the Fund is to track the performance of the Index as closely as possible, regardless of whether the Index level rises or falls.