Category: Open Ended Investment Company
The Share Class is a share class of a Fund which aims 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 MSCI Europe Momentum Index, the Fund’s benchmark index. The Share Class, via the Fund, invests in equity securities (e.g. shares) that, so far as possible and practicable, make up the benchmark index. The benchmark index aims to reflect the performance characteristics of a subset of equity securities within the MSCI Europe Index (“Parent Index”) which are selected for their recent price increases. The constituents of the benchmark index are selected using a strategy which identifies equity securities that have experienced price increases over the past 6 and past 12 months with the assumption that increases will continue in the future. As part of MSCI’s index methodology, equity securities within the Parent Index which may demonstrate lower price increases or have large fluctuations in price (volatility) may not form part of the Benchmark Index. The Parent Index is designed to provide representation of the equity markets in developed European countries. As at 30 June 2016, the Benchmark Index comprised the following countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom. Companies are included in the Parent Index based on the proportion of their shares in issue that are available for purchase by international investors. The Fund uses optimising techniques to achieve a similar return to its benchmark index. These techniques may include the strategic selection of certain securities that make up the benchmark index or other securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The use of FDIs is expected to be limited for this Share Class. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties. This is used as a means of generating additional income and to off-set the costs of the Fund. Recommendation: This Fund is suitable for medium to long term investment, though the Fund may also be suitable for shorter term exposure to the Index. Your shares will be accumulating shares (i.e. income will be included in their value). Your shares will be denominated in Euro, the Fund's base currency. The shares are listed on one or more stock exchanges and may be traded in currencies other than their base currency. The performance of your shares may be affected by this currency difference. In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Fund.