The investment objective of the Fund is to track the performance before fees and expenses of the Underlying Asset, which is the MSCI EM Low Carbon SRI Leaders Index (the “Reference Index”). The Reference Index is a subset of the MSCI Emerging Markets Index (the “Parent Index”), which is designed to reflect the performance of the shares of large and medium capitalisation companies in global emerging markets. The constituents of the Reference Index have comparatively lower current and potential carbon exposure and comparatively higher environmental, social and governance (“ESG”) performance characteristics relative to their regional and sector peers in the Parent Index.