Quaero Capital Funds (Lux) - Taiko Japan Z GBP NON HEDGED/  LU2231167367  /

The Sub-Fund's investment objective is to provide long-term capital growth through investment in listed equities of companies in Japan. The Sub-Fund is actively managed. The Sub-Fund has no benchmark index and is not managed in reference to a benchmark index. Although there will be no formal capitalisation bias, it is envisaged that mid and small capitalisation issues will be typically well represented in the portfolio. The Sub-Fund will mainly invest in equities of companies which are domiciled, headquartered or exercise the predominant part of their economic activity in Japan. For hedging and for investment purposes, the Sub-Fund may use all types of financial derivative instruments traded on a regulated market and/or over-thecounter. If the investment manager considers it to be in the best interests of the shareholders, the Sub-Fund may hold up to 100% of its net assets in cash and cash equivalents (cash deposits, money market UCIs (within the above-mentioned 10% limit) and money market instruments), on a temporary basis and for defensive purposes. This Class is cumulative. Dividend distributions are not planned.

The Sub-Fund's investment objective is to provide long-term capital growth through investment in listed equities of companies in Japan. The Sub-Fund is actively managed. The Sub-Fund has no benchmark index and is not managed in reference to a benchmark index. Although there will be no formal capitalisation bias, it is envisaged that mid and small capitalisation issues will be typically well represented in the portfolio. The Sub-Fund will mainly invest in equities of companies which are domiciled, headquartered or exercise the predominant part of their economic activity in Japan.