Under normal circumstances, the Portfolio invests at least 80 percent of its net assets (plus any borrowings for investment purposes) in equities and equity-related securities (i.e., shares, including common and preferred stock, warrants and rights) traded on markets in Japan. The Investment Manager seeks to invest in the equity and equity-related securities of companies operating in sectors which have been identified through research undertaken by the Investment Manager as showing greater potential for growth at any given point of the economic cycle. Investments may be made in companies from across the spectrum of market capitalization and will not be focused on any particular industry or sector.