The Fund aims to achieve long-term capital growth from a portfolio primarily made up of equity securities of companies in the United States. The Fund aims to achieve its investment objective by actively investing in a portfolio primarily made up of equity securities of companies 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 MSCI USA (Net Total Return) Index over the longterm, i.e. over a period of 5 years or more.