The fund invests solely in the Baring German Growth Trust fund, a UK authorised Unit Trust managed by Baring Fund Managers Limited. The underlying fund aims to achieve long-term capital growth by investing in Germany. The underlying fund will invest at least 75% of its total assets directly and indirectly in equities and equity related securities of companies incorporated in, or exercising the predominant part of their economic activity in Germany, or quoted or traded on the stock exchanges in Germany. The underlying fund invests into a relatively small number of assets, or into individual countries or a specific market sector. Such concentrated portfolios give rise to more risk than where investments are spread across a larger number of assets, countries or market sectors. The underlying fund may be denominated in or hold assets in a currency other than Sterling.