The Fund aims to achieve long term capital growth, with some income, over the long term (at least 5 years). The Fund invests primarily in equities at least 80% in shares of smaller and medium sized US companies. A US company is one from any economic sector that may be listed, quoted or traded in the US or elsewhere but which is incorporated, domiciled or conducts a significant portion of its business in the US. The Fund may be invested in any industry sector. Smaller and medium sized companies are defined by the investment manager for the Fund as companies with a market capitalisation of less than US$10 billion at the time of purchase.