Aoris International Fund (Class B) (Unhedged) (Managed Fund) is an actively managed exchange-traded fund focused on global equities outside of Australia. Its primary objective is to deliver sustained capital growth by investing in a concentrated portfolio typically comprising 10 to 15 international companies, selected for their quality and resilience. As a performance fee class, it charges a management fee of 1.1% per annum and includes a 15% fee on outperformance relative to its benchmark, the MSCI All Countries World Index ex Australia (Net, AUD), after fees and expenses. This fund is unhedged, meaning it does not employ currency hedging, exposing investors to both the returns and risks associated with foreign currency fluctuations. The fund targets long-term total returns above its benchmark across full market cycles, typically measured over a seven-year horizon. Due to its selective, high-conviction stock-picking strategy, the fund’s role in the market is to offer Australian investors efficient access to a rigorously curated set of international businesses, diversifying both geographic and sector exposure beyond domestic markets.