Nomura Funds Ireland - Japan Small Cap Equity Fund

The investment objective of the Sub-Fund is to achieve long-term capital growth through investment in an actively managed portfolio of Equity and Equity-Related Securities of small capitalisation companies in Japan. The Sub-Fund shall invest primarily in Equity and Equity-Related Securities of small capitalisation companies that are listed or traded on a Recognised Exchange in Japan. The Sub-Fund may invest up to 20% of its net assets in Equity and Equity-Related Securities of small capitalisation companies that are listed or traded on any Recognised Exchange outside Japan, provided that the business activities of the issuers of such securities are in Japan. The Investment Manager considers small capitalisation companies to be those that have a market capitalisation of less than JPY 1 trillion at the time of investment. .