The investment objective of the Sub-Fund is to achieve capital appreciation in the medium to long term by investing in a diversified portfolio of equity and equity-related securities (including warrants and convertible securities) (i) issued by entities listed or to be listed on the recognised stock exchanges of India; (ii) of entities domiciled or organised under the laws of India; and/or (iii) of entities (whether domiciled or organised in India or elsewhere) which, in the opinion of the Managers, have significant assets, business, production activities, trading or other business interests in India.