Flossbach von Storch - Global Emerging Markets Equities IT

The objective of the sub-fund is to achieve long-term above-average growth in the sub-fund currency whilst taking investment risk into consideration. The focus of these investments is on equities in companies outside of Western Europe, Japan and North America that achieve above-average growth, have qualified management, hold a dominant market position and demonstrate a solid financial structure. Equities in companies are also considered if more than 50 per cent of their revenue is dependent on global developing countries and if they are expected to have extraordinary price potential based on specific criteria or situations. Such situations may occur due to the performance of the market as a whole, of an industry or of an individual company. This includes promising new issues. The level of risk in these markets is generally high, which is to be reduced by balanced diversification. The sub-fund is actively managed.