The investment objective of the Fund is to track the LOIM Fundamental EM Local Currency Index (the "Index"). The Index provides long-only exposure to the debt of emerging markets and developing countries*, whose weights are determined according to Lombard Odier Investment Management (LOIM) proprietary fundamental weighting methodology, which uses fundamental factors to assess issuers’ creditworthiness and identify those believed to be best placed to repay their debt. The approach is an alternative to traditional market-cap investing which over-weights those issuers with the greatest level of outstanding debt. This approach aims to better diversify portfolio risk as well as improve the risk-adjusted returns (the Sharpe ratio).