#   Objective and Investment policy
Objective: The investment objective of the Sub-Fund is to achieve growth on your investment over the long term.
Investment Policy: The Sub-Fund will seek capital appreciation through tactical asset allocation between the currencies, government bonds, corporate bonds, convertible bonds and equities of the Asia-Pacific region.
The Sub-Fund’s investments consist primarily of equities, bonds and other fixed income instruments issued by companies based in, and the governments of, countries in the Asian-Pacific region, and deposits in currencies of that region. Investments may also include securities of issuers in Asia and Australasia but traded elsewhere.
The Sub-Fund may invest in and have direct access to China A Shares listed on the Shanghai Stock Exchange via the Shanghai-Hong Kong Stock Connect Scheme or the Shenzhen-Hong Kong Stock Connect Scheme (“Stock Connect”) and to debt and debt related securities traded in the China Interbank Bond Market (“CIBM”) through the China Hong Kong Mutual Access Program (“Bond Connect”).
The Sub-Fund is a long-only fund and may use futures contracts traded on a recognised exchange only for hedging or as an alternative to buying or selling the equivalent securities.
The Sub-Fund may hold or maintain ancillary liquid assets. The Sub-Fund may utilise techniques and instruments such as futures, options, repurchase/reverse repurchase agreements and forward currency contracts subject to the conditions and limits set out in the UCITS Notices.
The Sub-Fund is considered to be actively managed in reference to MSCI AC Asia Pacific Index (the “Index”) by virtue of the fact that it uses the Index for performance comparison purposes. Certain of the Sub-Fund’s securities may be components of and may have similar weightings to the Index. However the Index is not used to define the portfolio composition of the Sub-Fund or as a performance target and the Fund may be wholly invested in securities which are not constituents of the Index.”
You may buy, sell and switch units daily by submitting an application to the Sub-Fund’s administrator before 5 p.m. (Irish time) on the day falling 2 business days prior to the relevant valuation date.
Recommendation: This Sub-Fund is appropriate for investors with a long-term investment horizon.
Dividends: It is not the current intention of the directors that the Class A Dollar and Class A Euro will declare or pay dividends.

Translation (ENFR, 2021-02-19):
# Objectifs et politique d’investissement
## La société de gestion du Fonds est GaveKal Fund Mana- gement (Ireland) Limited
Objectif : l’objectif d’investissement du Compartiment est la croissance de votre investissement à long terme.
Politique d’investissement : le Compartiment recherchera l’appréciation du capital par l’allocation tactique des actifs entre les devises, les obligations d’État, les obligations de sociétés, les obligations convertibles et les actions de la région Asie-Pacifique.
Les investissements du Compartiment se composent principalement d’actions, d’obligations et d’autres instruments à revenu fixe émis par des sociétés établies dans la région Asie- Pacifique et les gouvernements de cette région, ainsi que de dépôts en devises de cette région. Les investissements peuvent également comprendre des titres d’émetteurs en Asie et Australasie, mais négociés ailleurs.
Le Compartiment peut investir dans des Actions A chinoises cotées sur la Bourse de Shanghai par le biais du programme Shanghai-Hong Kong Stock Connect ou du programme Shenzhen-Hong Kong Stock Connect (« Stock Connect »), des titres de créance et équivalents négociés sur le Marché interbancaire chinois (« CIBM ») par le biais du programme China Hong Kong Mutual Access (« Bond Connect »), et bénéficier d’un accès direct à ces derniers.
Le Compartiment est uniquement à long terme et peut utiliser des contrats à terme négociés sur une bourse reconnue uniquement à des fins de couverture ou en tant qu’alternative à l’achat ou à la vente de titres équivalents.