Investment Objective
The portfolio seeks long-term growth of capital through investments in companies operating in emerging markets or whose shares are listed on the stock markets of such countries.

Portfolio Universe
The Emerging Markets Investment Fund invests in equity securities from countries defined as emerging markets by Morgan Stanley Capital International (MSCI).

Investment Approach
The investment process is top-down, combining a quantitative country and sector analysis with valuation analysis, to identify opportunities in the market. The focus is on large capitalization companies with dominant market share, a high degree of financial transparency and good corporate governance. This approach takes into account social and political developments, demographic issues, market regulations and restrictions and shareholder protection.

Inception
1991

Quarterly updates
Factsheet data: Portfolio Allocation, Performance, Equity Holdings
Market Review: Portfolio Commentary
Performance data: Quarterly performance since inception