# Risk and Reward Profile
The Fund aims over the long term to increase the value of its shares through growth in the value of its	
investments. The Fund invests its assets primarily, directly or indirectly, in the shares of companies in the shares of companies, which are listed, incorporated, with a registered office or principal place of business in Asia (excluding Japan). Up to 30% of the Fund's assets can be invested in shares of companies domiciled in other developed or emerging markets, as long as consistent with the investment policy. The Fund can invest directly or indirectly up to 20% of its assets in China A shares via both, the ShanghaiHong Kong Stock Connect or the Shenzhen-Hong Kong Stock Connect. The Fund may also invest up to 10% of its assets in debt and debt-related securities of investment grade issued by corporations, which are listed on a recognised market globally. The Fund may also hold up to 20% of its assets in cash or invest in ancillary liquid assets for liquidity purpose. The Fund may use financial derivatives for investment, efficient portfolio 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. 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 fundamental analysis to identify companies with sustainable above-market earnings growth rates while incorporating macroeconomic views in bottom analysis to the extent possible.
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. The Fund invests in other currencies. Changes in exchange rates will therefore affect the value of the investment. The Fund may invest in financial derivative instruments which can result in greater fluctuations of the Fund's value and may cause the Fund to lose as much as or more than the amount invested. 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.
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Lower Risk	Higher Risk
Typically Lower Rewards	Typically Higher Rewards
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Translation (ENES, 2022-12-31):
# Perfil de riesgo y remuneración
El objetivo del fondo a largo plazo es incrementar el valor de sus acciones haciendo crecer el valor de sus	
inversiones. El fondo invierte sus activos, ya sea directa o indirectamente, sobre todo en acciones de empresas cotizadas, constituidas, con domicilio social o sede principal en Asia (excepto Japón). Siempre y cuando sea coherente con la política de inversión, puede invertirse como máximo el 30% de los activos del
Menor riesgo	Mayor riesgo
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fondo en acciones de empresas con domicilio en otros mercados desarrollados o emergentes. El fondo puede invertir directa o indirectamente como máximo el 20% de sus activos en acciones A de China tanto a través de Shanghai-Hong Kong Stock Connect como de Shenzhen-Hong Kong Stock Connect. Asimismo, el fondo puede invertir hasta el 10% de sus activos en valores de deuda y relacionados con esta con grado de inversión emitidos por sociedades que cotizan en un mercado reconocido a nivel mundial.
Remuneración normalmente menor
Remuneración normalmente mayor
Con fines de liquidez, el fondo también puede mantener hasta el 20% de sus activos en tesorería o invertir