Explain what is a growth investment strategy? Please explain why both large capitalised equities and small capitalised equities may be selected in a growth investment fund? When does this strategy outperform a Value strategy?

1. Explain the general process of active investments - identifying undervalued securities.

2. Explain how Value and Growth Funds identify undervalued securities.

3. Explain why it is likely that each type investments mostly identify a particular capitalisation of equities and the market conditions they typically do well.

4. Explain why the investments and market conditions may not be limited to that identified in point 3 above.