Red Gate China Growth Fund Capitalisation Institutional B USD

The objective of the Fund is to achieve long‐term (5 years plus) capital growth by investing in shares of companies that will benefit from the continued development of the Chinese economy and provide long‐term, sustainable alpha for investors. The Fund will invest at least 70% of its net assets in shares known as transferable securities such as: ChineseA‐shares listed on the Shanghai and Shenzhen stock exchanges via the Hong Kong – Shanghai and Shenzhen Stock Connect Programs; Hong Kong H‐shares listed on the Hong Kong Stock Exchange and; Shares of Chinese companies listed overseas that carry out the majority of their business and derive the majority of their income in China. The Fund may also invest in shares of companies with the potential to derive income and benefit substantially from the economic growth and development of China. The Fund intends to integrate Environmental, Social and Governance (”ESG”) consideration in its investment selection process relying on the decisions made by the Norwegian Government Pensions Fund Global. As a consequence, the Fund will systematically and automatically exclude from the list of its potential investments companies that are not deemed ESG compliant by and are then listed on the exclusion list of the Norwegian Government Pensions Fund Global. The Fund is actively managed without any reference to a benchmark and its investment approach is based on a fundamentals‐driven, stock selection process. The Investment Manager aims to select high quality growth companies based on analyzing a range of growth metrics and indicators, as well as on‐the‐ground due diligence. The Investment Manager has discretion over the composition of its portfolio subject to this objective and investment policy. Recommendation: this Fundmaynot be appropriate for investors who plan to withdraw their money within five years. Sale of shares in the Fund can be made weekly. The Fund does not intend to distribute dividends. Any income arising from the Fund’s investments is reinvested and reflected in the value of your shares. However, the annual general meeting of shareholders may decide to distribute such income. The Share Class seeks to outperform the MSCI China All Shares Net Total Return Index performance.