ASK Investment Funds ICAV - ASK Indian Entrepreneur Fund Institutional Share Class (Class I) USD Acc

The Fund aims to seek long-term capital appreciation. Policy: ASK Capital Management Pte. Ltd (the “Investment Manager”) intends to achieve long-term capital appreciation of the Fund’s assets by investing in equities and equity-related instruments, collective investment schemes which are listed or traded on recognized exchanges as well as money market instruments. These equities, equity-related instruments and money market instruments will provide exposure to India domiciled companies or companies that derive substantial part of revenue from India and the Fund will invest in such securities pursuant to obtaining registration as a Foreign Portfolio Investor. Permissible equity investment includes common stock, preferred stock, warrants and fully convertible debentures. Collective investment schemes include money market funds, exchange traded funds and index funds. The Investment Manager will select the equity, equity-related instruments and money market instruments based on its investment philosophy and investment process, as set out in the sections of the Supplement entitled “Investment Philosophy” and “Investment Process”. The Fund, from time to time will also invest in initial public offerings (IPOs) to meet its investment objective. The Fund may also invest in fixed income securities listed on recognised markets, primarily in India. The Fund will invest in a broadly diversified range of fixed income securities (including bonds, notes and/or bills) issued by governments, institutions and corporations in India. The Fund will hold fixed income securities with investment grade ratings (BBB- or above by Moody’s / Standard and Poor’s or equivalent credit ratings as determined by the Investment Manager). The Fund may hold up to 20% of its net asset value in fixed income securities and money market instruments if the Investment Manager believes that this is in the best interest of shareholders. Investment in fixed income securities and money market instruments will be for ancillary purposes only, for liquidity and cash management purposes. Investments may be made up to 10% in aggregate in unlisted equity and fixed income securities. For the avoidance of doubt, the Fund will not invest more than 10% of its net assets in aggregate in units of eligible collective investment schemes (including money market funds). The Fund does not currently use financial derivative instruments and a risk management process will be submitted to the Central Bank of Ireland prior to the Fund engaging in financial derivative instrument transactions. The Fund does not intend to issue participatory notes (“P-notes”) or offshore derivative instruments (“ODIs”). This is an Accumulating class, any income or gains of the fund (net of expenses) will be accumulated and reinvested into the NAV of the Fund. Dealing: Shares can be bought or sold daily (except Saturday, Sunday or gazetted public holiday) on days on which banks and/or stock exchanges in Ireland, Singapore, India and the United States of America are open for business. Orders to buy and sell can be made by submitting a request by 14:00 p.m. (Irish time) on the last business day prior to the relevant dealing day to the administrator (BNP Paribas Fund Administration Services (Ireland) Limited). Performance Benchmark: The Fund is actively managed with a bottom up stock selection process and the Investment Manager has full discretion over the composition of its portfolio, subject to the investment objective and policies of the Fund. For performance reporting purposes, the benchmark against which the Fund’s performance will be measured is the MSCI India Index. Profile of Typical Investor: The Fund is suitable for investors who wish to seek capital appreciation over a mid- to long-term horizon and gain exposure to companies domiciled or deriving substantial portion of their revenue from India. Such investors should be able to accept high level of volatility and share price fluctuation. They should be willing and able to accept that their principal will be at risk. You should consider your financial goals and circumstances before investing in the Fund. If in doubt you should consult your financial adviser whether this Fund is a suitable investment for you. Further information: For full investment objectives and policy details, please refer to the sections entitled “Investment Objective” and “Investment Policy” in the supplement for the Fund (the “Supplement”).