The Fund aims to achieve a combination of income and capital growth and to outperform the MSCI Zhong Hua 10/40 Index, net of charges, over rolling five-year periods. The Fund invests at least 80% of the value of its property in shares of companies that are listed, located or have a significant portion of their business in Hong Kong and China. Investment may be direct or indirect (e.g. through collective investment schemes or derivatives), however the ACD expects that the Fund will typically hold investments directly. The Fund may invest in companies of any size, including smaller companies. The Fund may at times be concentrated in terms of the number of investments it holds (i.e. have less than 50 holdings).