The Sub-fund is a passively managed index-tracking fund.
The Sub-fund’s investment objective is to replicate the performance, whether positive or negative, of the MSCI ACWI IMI Water ESG Filtered Net Total Return index
(the “Benchmark Index”), denominated in euros (EUR), while minimising the tracking error between its performance and that of its Benchmark Index.
The Benchmark Index aims to represent the performance of companies with water-related business activities, such as water distribution, sewage services and the
supplying of water-treatment and other water-related equipment. It excludes companies whose environmental, social and governance (ESG) performance, as determined
by an ESG rating, lags that of their peers within the investment theme.