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The investment objective of the Sub-Fund is to track the performance of the MSCI World Index and to minimise the tracking error between the Sub-Fund’s net asset value and the performance of the Index. The MSCI World Index is a broad global index representative of large- and mid-cap stocks across Developed Markets. The Index is a net total return index, meaning that dividends net of tax paid by the Index constituents are included in the Index return. The Sub-Fund seeks to replicate the Index through direct replication, mainly by making significant direct investments in transferable securities and other eligible assets representing the Index constituents in proportions extremely close to their proportion in the Index. The Sub-Fund may use derivatives related to the Index or its constituents for investment and/or efficient portfolio management. This is an accumulating share class, meaning that income is retained and reinvested within the Sub-Fund.

The investment objective of the Sub-Fund is to track the performance of the MSCI World Index and to minimise the tracking error between the Sub-Fund’s net asset value and the performance of the Index. The MSCI World Index is a broad global index representative of large- and mid-cap stocks across Developed Markets. The Index is a net total return index, meaning that dividends net of tax paid by the Index constituents are included in the Index return. The Sub-Fund seeks to achieve exposure to the Index through direct replication, mainly by making direct investments in transferable securities and/or other eligible assets representing the Index constituents in proportions extremely close to their proportion in the Index. The Sub-Fund is passively managed and its shares are accumulating, meaning that income is retained and reinvested within the Sub-Fund.