Global stock markets are full of opportunities for a fund focused on companies undergoing positive transformation. Current economic conditions and increasingly exacting shareholders have jolted many firms to initiate widespread corporate change.Companies are being driven to turn around unprofitable businesses or remove ineffective management teams to deliver value. Positive transformation is particularly evident in organisations undergoing privatisation, where increased competition in a liberalised environment and the need to survive without public funding has driven better management and greater efficiency.In addition, the elimination of tariff barriers and regulatory restrictions, ownership change and the introduction of new technologies all offer potential for investors. The Fund aims to take advantage of the value unlocked by change by using its disciplined evaluation process.Each prospective investment needs to meet the Fund's strict criteria of a history of value creation, attractive valuation, an improving earnings outlook and upward momentum in the share price.