The Fund aims to achieve its investment objective by actively investing in a portfolio primarily made up of equity securities of companies with small-to-mid market capitalisations domiciled, or exercising the predominant part of their economic activity, in the United States. The Fund will hold a portfolio of equity securities which is systematically selected and managed with the aim of outperforming the Russell 2500 Total Return Index (the Benchmark). The Sub-Fund will be actively managed and will not attempt to replicate the Benchmark.