The Fund aims to increase the value of investor's investment over a period of 5 years or more. The Fund will invest at least 60% in the equity securities of sustainable water and waste companies. These are companies globally which maintain sustainable characteristics and are involved in the design, manufacture or sale of products and services used for or in connection with water and waste management. Companies with sustainable characteristics are those which the Investment Manager believes have effective governance and management of environmental and social issues. The Fund will invest: At least 70% in equities in water and waste management companies; At least 70% in equities of companies which maintain sustainable characteristics; At least 60% in equities of water and waste management companies which themselves maintain sustainable characteristics. The Fund is actively managed without reference to a benchmark.