Objective & Strategy

The investment objective of the Sub-Fund is to achieve long term capital appreciation. The Sub-Fund seeks to achieve its investment objective by tracking the performance of the MSCI EUR HY SRI Sustainable Corporate Bond Index (the Reference Index) while minimising as far as possible the tracking error between the Sub-Fund’s performance and that of the Reference Index. The Reference Index is a fixed-rate, high-yield corporate bond benchmark that includes issuers with MSCI ESG Ratings of BBB or higher, and excludes issuers that are involved in business activities that are restricted according to pre-defined Business Involvement Screens. Issuers are screened for levels of involvement expressed in terms of % of associated revenue and may relate to activities pertaining to adult entertainment, alcohol, gambling, tobacco, conventional weapons, civilian firearms, nuclear weapons, controversial weapons, nuclear power, thermal coal, fossil fuels and genetically modified organisms. The Sub-Fund will attempt to track the performance of the Reference Index by investing in all constituents of the Reference Index directly in a similar proportion to their weighting in the Reference Index or using a sampling process which may result in investment in securities which are not constituents of the Reference Index but which provide a similar exposure to certain securities of the Reference Index. In addition to the above the Sub-Fund may use the derivatives and for the purposes as set out and in accordance with the supplement to the prospectus of the ICAV (the Prospectus) in respect of the Sub-Fund (the Supplement). The Sub-Fund is passively managed. There can be no guarantee that the investment objective will actually be attained and investors are explicitly warned that this Sub-Fund is not a capital guaranteed product. Typically, only authorised participants (i.e. brokers) can purchase shares directly from or sell shares directly back to the Sub-Fund. Other investors can purchase and sell shares on the secondary market as described in the Prospectus. SFDR Classification: The Sub-Fund is classified as an Art. 8 financial product under SFDR. For more detailed information on the ESG components of the Sub-Fund as well as the integration of sustainability risks into the investment decision process, please refer to the Supplement and to the ICAV Prospectus. The Sub-Fund is not sponsored, endorsed, or promoted by MSCI and MSCI bears no liability for any errors, omissions or interruptions of or in connection with the Reference Index or any data included therein. The Supplement contains a more detailed description of the limited relationship MSCI has with the ICAV. Recommended for retail investors
■ With a basic knowledge of investing in funds and no or limited experience of investing in the Sub-Fund or similar funds
■ Who understand the risk of losing some or all of the capital invested
■ Seeking to increase the value of their investment, and who are willing to accept a moderate level of volatility
■ This Sub-Fund may not be appropriate for investors who plan to withdraw their money within 5 years. This is a non-distributing unit class. Investment income is re-invested.

Documents