Value-Holdings Deutschland Fund/  LI0013873901  /

The Value-Holdings Capital Partners Fund invests in equity securities of companies listed on a stock exchange that are domiciled in Germany or conduct most of their business activities in Germany. The selection of equities for the Fund's portfolio is based on professional analysis of the long-term fundamentals. The Investor Adviser employs a value-based approach in selecting securities. This approach is based on the concept that every company has an intrinsic value that can be ascertained by careful corporate analysis. The intrinsic value is the price that a well-informed purchaser would pay for the entire company. As the market value of a company can often deviate greatly from this intrinsic value, it makes economic sense in the longer term to buy shares of companies that are temporarily undervalued. Thus the Value-Holdings Capital Partners Fund aims to buy shares of companies whose stock market price is below their intrinsic value and which can therefore be regarded as fundamentally undervalued.

The Value-Holdings Capital Partners Fund invests in equity securities of companies listed on a stock exchange that are domiciled in Germany or conduct most of their business activities in Germany. The selection of equities for the Fund's portfolio is based on professional analysis of the long-term fundamentals.