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The investment objective of the Fund is to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the S&P 500 GBP Hedged Index, the Fund’s benchmark index. The Index provides a return on the S&P 500, which measures the performance of large-cap stocks in the US market. Stocks are included in the Index based on a free-float market capitalisation-weighted basis. The Index also uses one-month foreign exchange forward contracts to hedge each non-Sterling currency in the Index back to Sterling. The Fund is passively managed and aims to invest in the stocks that make up the S&P 500, as well as foreign exchange forward contracts that track the Index’s hedging methodology. The Fund intends to replicate the Index by holding the stocks that make up the Index in similar proportions to it. The Fund may use financial derivative instruments to produce a similar return to the Index and may engage in short-term secured lending of its investments to generate additional income. The Fund’s base currency is Sterling and shares are accumulating.

Fund aims to generate a return on capital and income which would correspond to, or track, the return on the NASDAQ-100 Notional Index (Net Total Return) in USD (the Index) by replicating all of the constituents of the Index. The index measures the performance of a selection of shares representative of the overall market or subsection of it. The Index consists of shares of 100 of the largest non financial companies listed on the NASDAQ Stock Market; selected using specific criteria. To achieve the objective the Fund will, as far as practicable, hold all the shares in the Index in their respective weighting.