MS Nezu Cyclical Japan UCITS

Fund Objective

MS Nezu Cyclicals Japan UCITS Fund ("the Fund") seeks to generate long term positive returns through investment in Asian equity and equity related securities with a primary focus on Japanese cyclical sector equities. The investment process utilizes extensive company and industry level research to develop views on the relative attractiveness of many different cyclical sectors and stocks. Cyclical sectors include (i) manufacturing sectors such as basic materials, resources, autos, machinery, semiconductors, electronic components and precision equipment and (ii) non-manufacturing sectors, such as advertising or airlines. The Fund seeks to generate performance by identifying turning points in production, inventory and pricing cycles and by determining the equities it anticipates will win and lose as a result of these trends.