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The investment objective of the Fund is to track the performance of large-sized US energy stocks in the S&P 500 Index. The Fund seeks to track the performance of the S&P Energy Select Sector Daily Capped 35/20 Index as closely as possible. The Index comprises large-sized US energy stocks classified within the Energy sector according to the Global Industry Classification Standard (GICS). The Fund primarily invests in securities included in the Index and uses a full-replication strategy, seeking to hold all the Index’s securities with approximately the same weightings. The Fund may use increased diversification limits permitted under the UCITS Regulations and may use financial derivative instruments in exceptional circumstances.

The investment objective of the Fund is to track the performance of large-sized US energy companies included in the S&P 500 Index. The Fund seeks to track the performance of the S&P Energy Select Sector Daily Capped 35/20 Index as closely as possible. The Index measures the performance of large-sized US energy stocks classified within the Energy sector according to the Global Industry Classification Standard (GICS). The Fund uses a full-replication strategy and seeks to hold all the securities in the Index with approximately the same weightings. The Index applies diversification limits, generally capping the weight of securities issued by the same body at 20% and the aggregate weight of securities exceeding 4.8% at 35%.