"The investment manager is Walter Scott & Partners Limited, part of The Bank of New York Mellon Corporation. Longterm capital growth by investing in shares (i.e. equities) and similar investments of companies listed or located throughout the world. Policy The Fund will: §invest anywhere in the world; §invest in company shares and similar investments; §follow a concentrated investment approach typically investing in fewer than 6 company shares; §have complete freedom to invest without reference to any benchmark or index; and §limit investment in other mutual funds to 1%. The Fund may: §invest in emerging markets; and §invest in derivatives (i.e. financial contracts whose value is linked to the expected price movements of an underlying investment) with the aim of reducing the overall costs and/or risks of the Fund. Recommendation: the Fund may not be appropriate for investors who plan to withdraw their money within five years. "