To provide exposure to large capitalisation stocks in the US with a greater emphasis on those stocks deemed more environmentally and socially responsible. The Fund invests in equities of companies of large capitalisation in the US that are included in the benchmark.

The Sub-Fund promotes environmental and social characteristics in accordance with Article 8 of the Sustainable Finance Disclosure Regulation (the “SFDR”).

In its implementation of the Fund’s Environmental, Social, Governance (“ESG”) strategy, the Investment Manager tracks the S&P 500 Guarded Index which is structured to represent the performance of a portfolio of companies that overweighs constituents with higher Environmental, Social and Governance (ESG) performance and lower carbon emissions and underweight constituents with lower Environmental, Social and Governance (ESG) performance and higher carbon emissions, while excludes companies that are involved in controversial businesses like weapons, tobacco, thermal coal, military contracting, and oil sands.

The Fund’s environmental or social characteristics are assessed both quantitatively and qualitatively, by means of sustainability indicators as well as applying exclusions through the Fund’s replication of the Index as further described in the website disclosure’s dedicated sections. As part of its investment decision making process, the Fund’s ESG strategy also relies on the binding criteria used by the Index for the selection of underlying assets.

Finally, the Fund has a minimum allocation of 5% of its portfolio to sustainable investments. The Fund ensures that its sustainable investments do not cause significant harm to any environmental or social sustainable investment objective.

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The Fund does not offer any capital guarantee or protection and you may not get back the amount invested.

• The Fund is subject to the following risks which are materially relevant:
  Index Tracking Risk: No financial instrument or set of investment techniques enables the returns of any Index to be reproduced or tracked exactly. Changes in the investments of any Sub-Fund and re-weightings of the relevant Index may give rise to various transaction costs, operating expenses or inefficiencies which may adversely impact a Sub-Fund’s tracking of an Index.
  Index License Risk: To utilise an Index, the Fund may need to have a licence agreement signed with the Index Provider. If, at any time in respect of an Index, the licence granted terminates or disputed, impaired or ceases to exist ,the Directors may be forced to replace the Index with another Index. Such a substitution or any delay in such a substitution may have an adverse impact on the Sub-Fund.
  Passive Investment Risk: An Index Tracking Sub-Fund will be negatively affected by general declines in the securities and asset classes represented in its Index. Because Index Tracking Sub-Funds are not “actively” managed, Market disruptions and regulatory restrictions could have an adverse effect on an Index Tracking Sub-Fund's ability to adjust its exposure to the required levels.
  Sustainability risk: The fund's integration of sustainability risks in the investment decision process may have the effect of excluding profitable investments from the investment universe of the fund and may also cause the fund to sell investments that will continue to perform well. A sustainability risk could materialise due to an environmental, social or governance event or condition which may impact the fund's investments and negatively affect the returns of the fund.
  Index related risk: the risk that quantitative techniques used in creating the Index the Fund seeks to track do not generate the intended result, or that the portfolio of the Fund deviates from its Index composition or performance.

Complete information on the risks of investing in the Fund are set out in the Fund's prospectus.