The Sub-Fund aims to achieve long-term capital growth from a portfolio primarily made up of equity securities of companies in the United States. The Sub-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 Sub-Fund will hold a portfolio of equity securities which is systematically selected and managed with the aim of outperforming the MSCI USA Value Index (Total Net Return) (the Benchmark) over the long term, i.e. over a period of 5 years or more.