FUNDSMITH EMERGING EQUITIES 

Fundsmith Emerging Equities Trust plc is a closed ended equity mutual fund launched by Investec Bank Plc. The fund is managed by Fundsmith, LLP. It invests in public equity markets of emerging and developing market countries across the globe. The fund seeks to invest in stocks of companies that are operating across diversified sectors. It focuses on such factors as predictable revenues, low capital intensity, high returns on capital, strong market positions, and degree of economic freedom of the country of listing to create its portfolio. The fund benchmarks the performance of its portfolio against the MSCI Emerging Markets Index. Fundsmith Emerging Equities Trust plc was formed on October 31, 2013 and is domiciled in the United Kingdom.