# Risk and Reward Profile
The Fund aims to preserve capital and achieve long term capital appreciation, by investing in a globally	
diversified portfolio of companies within the healthcare sector. The Fund invests directly or indirectly up to 100% of its Net Asset Value (and typically at least two thirds of its Net Asset Value) in equities and equity related securities of healthcare companies worldwide, which may be listed on a Regulated Market or unlisted. The Fund may invest up to 10% of its Net Asset Value in global listed securities other than healthcare related companies and up to 30% of its Net Asset Value in ancillary liquid assets and cash. The total amount of these investments is limited to a third of the Fund's Net Asset Value. Up to 30% of the Net Asset Value may be invested in emerging markets. The Fund may invest up to 20% of its Net Asset Value in equity warrants, up 20% of its Net Asset Value in Depositary Receipts (including ADRs, EDRs and/or GDRs) and up to 10% of its Net Asset Value in participatory notes. The Fund can invest directly or indirectly up to 20% of its Net Asset Value in China A shares via both, the Shanghai-Hong Kong Stock Connect or the Shenzhen-Hong Kong Stock Connect and China H-shares traded on the Hong Kong Stock Exchange. The Fund may use financial derivatives for efficient portfolio management and/or hedging purposes. The Fund may use investment techniques known as ‘hedging’ to provide protection against exchange risks for the efficient management of its investments or to hedge a non-base currency share class. Such techniques may include options, forwards, futures, swaps and securities lending agreements. The Fund may be leveraged up to 100% of the Fund’s NAV. The Fund may invest up to 10% of its Net Asset Value in other collective investment schemes.
FUND OPPORTUNITIES
A highly qualified and experienced investment manager actively manages the Fund. Equities are selected using a stock selection process to generate a high conviction portfolio participating in specific themes, which are identified as the future of healthcare, namely, future medicines and technologies, new markets, healthcare delivery, prevention and outsourcing.
RISK FACTORS
A significant portion of the Fund's assets may be invested in emerging market assets. Emerging markets generally carry greater political, legal, counterparty and operational risk. In exceptional circumstances the Fund may encounter difficulties when buying and selling these investments. Due to the fact that the Fund may invest into the China A Shares market via both, Shanghai-Hong Kong Stock Connect and/or Shenzhen-Hong Kong Stock Connect, various additional risks which include but are not limited to regulatory risks and suspension risks may thereby be caused and should be emphasised to the general investment and equity related risks.
Lower Risk	Higher Risk
Typically Lower Rewards	Typically Higher Rewards
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

| ISIN | IE00BNGJL533 |
| --- | --- |
| Valoren | 59198001 |
| Management Company | Three Rock Capital Management Ltd. |
| Investment Manager | Polar Capital LLP |
| Asset Class | Equity |
| Share Class Currency | USD |
| Base Currency | USD |
| Benchmark | MSCI AC World Daily Total Return Net Health Care USD Index |
| Fund Inception Date | 09/04/2021 |
| Share Class Launch Date | 09/04/2021 |
| Domicile | Ireland |
| Fund Type | UCITS |
| Minimum Initial Investment | USD 1,000 |
| Settlement | Trade Date + 2 BD |
| Dealing Frequency | Daily |
| Distribution | Annually |
| Total Fund Assets | USD 173.7 m |
| Total Share Class Assets | USD 0.2 m |

Translation (ENIT, 2022-10-31):
# Profilo di rischio e di rendimento
Il Fondo mira a conservare il capitale e ottenere un apprezzamento a lungo termine del capitale	
investendo in un portafoglio diversificato di società nel settore sanitario. Il Fondo investe direttamente o indirettamente fino al 100% del valore patrimoniale netto (e di norma almeno due terzi del valore patrimoniale netto) in azioni e in titoli collegati ad azioni di società del settore sanitario su scala mondiale,
Basso rischio	Alto rischio
| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| --- | --- | --- | --- | --- | --- | --- |

che possono essere quotati su un mercato regolamentato o non quotati. Il Fondo può investire fino al 10% del valore patrimoniale netto in titoli mondiali quotati di società che non rientrano nel settore sanitario e fino al 30% del valore patrimoniale netto in attività liquide accessorie e contanti. L'ammontare totale di questi investimenti è limitato a un terzo del valore patrimoniale netto del Fondo. Fino al 30% del valore patrimoniale netto può essere investito nei mercati emergenti.
Rendimenti generalmente più bassi
Rendimenti generalmente più elevati
Il Fondo può investire fino al 20% del valore patrimoniale netto in warrant azionari, fino al 20% del valore