Quaero Capital Funds (Lux) - World Opportunities - A USD ACC Fonds

The investment objective of the Sub-Fund is to achieve superior absolute returns as well as superior risk-adjusted returns. The Sub-Fund will mainly invest in equities and equity-related securities (such as depositary receipts and closed-end real estate investment trusts (REITs)). On an ancillary basis, in normal market conditions and for treasury purposes, the Sub-Fund can invest in money market instruments, money market undertakings for collective investment (UCIs) and in deposits. However, the Sub-Fund will invest: - up to 10% of its net assets in sovereign, supranational and corporate bond with a rating of not less than BB by Standard & Poor's, or its equivalent by Moody's or another rating agency. Investments in bonds are only anticipated to be made in circumstances when equity markets are not performing and in the best interests of the Sub-Fund. - up to 10% of its net assets in UCIs, - up to 25% of its net assets in emerging markets (including 10% of exposure to China).