Scottish Oriental Smaller Companies tries to achieve long-term capital growth by investing mainly in smaller Asian quoted companies. Asia is deemed to include the Indian subcontinent but excludes Japan and Australasia. The Trust invests mainly in the shares of companies with market capitalisations of below US$1,500m, or the equivalent thereof, at the time of first investment. Scottish Oriental Smaller Companies may also invest in companies with market capitalisations of between US$1,500m and US$3,000m at the time of first investment, although not more than 20 per cent of the Trust’s net assets at the time of investment will be invested in such companies.