The objective of the investment policy is to achieve long term capital appreciation. In order to achieve this, the fund invests in large cap US equities according to the CROCI methodology and the CROCI US investment strategy which selects the forty shares with the lowest positive CROCI Economic Price Earnings Ratio (CROCI Economic P/E) from a universe comprising approximately 500 of the largest US equities by market capitalisation and for which CROCI Economic P/Es are calculated.