<p>The Fund seeks to achieve long-term capital growth primarily through investment in equities issued by companies around the globe that are expected to benefit from a long term increase in the prices of commodities and natural resources. At least two-thirds of the companies invested in will be involved in mining, extracting, producing, processing or transporting a natural resource or commodity or will be companies which provide services to such companies.</p>


Ninety One Luxembourg S.A.

Ninety One UK Limited

Other Equity

Equity

MSCI ACWI Select Natural Res Cap NR USD

Ninety One GSF Glb Ntrl Res A Acc SGD H

Ninety One GSF Glb Ntrl Res I Acc USD

2023

2022

2021

2020

2019

United States

United Kingdom

Canada

Norway

France

Switzerland

Australia

South Africa

Ireland

Denmark

Other countries

Unclassified

Basic Materials

Energy

Industrials

Consumer Defensive

Healthcare

Utilities

Exxon Mobil Corp

Shell PLC

Rio Tinto PLC Registered Shares

TotalEnergies SE

Anglo American PLC

Glencore PLC

CNH Industrial NV

Corteva Inc

Freeport-McMoRan Inc

Williams Companies Inc