The Fund seeks to achieve its objective by investing primarily in listed equity and equity related securities of small cap companies throughout Europe excluding the United Kingdom. For the purposes of this investment policy, Europe is intended to include all countries in the European Union, Switzerland, Norway, Turkey and the members of the Commonwealth of Independent States. Up to 30% of the NAV of the Fund may be invested in Money Market Instruments, equity and equity related securities of companies not meeting the above requirements or convertibles.