The Fund is actively managed and will not seek to track the performance of or replicate the MSCI World Healthcare Index (the Benchmark), rather the Fund will hold a portfolio of listed equity and equity-related securities of companies (which include but will not be limited to directly investing in Benchmark securities, American depositary receipts and convertible securities (other than contingent convertible securities)) which is actively selected and managed with the aim of delivering an investment performance which exceeds that of the Benchmark over the long-term.