Category: Open Ended Investment Company

Policy ■ The Fund is considered to be actively managed in reference to the benchmark(s) in the performance table by virtue of the fact that it uses the benchmark(s) for performance comparison purposes. The benchmark(s) are not used to define the portfolio composition of the Fund and the Fund may be wholly invested in securities which are not constituents of the benchmark. ■ The Fund is biased towards companies that provide or produce more sustainable products and services as well as having a more progressive approach to the management of environmental, social and governance issues. ■ The Fund will seek to achieve its objective through exposure mainly to equities of companies incorporated in any European Economic Area Member State, the UK and Switzerland, although it can invest globally. In normal conditions the Fund invests at least 75% of its Net Asset Value in European equities. ■ In addition, the Fund may invest in debt securities for liquidity and cash management purposes. Any investment in bonds will be in corporate and government fixed or floating rate instruments which may be rated or unrated up to 25% of the net assets of the Fund. The Fund may also invest in exchange traded funds and other open-ended collective investment schemes. ■ The Fund is not expected to have any exposure to derivatives (contracts whose value is linked to the expected future price movements of an underlying asset) in normal circumstances but may on occasion use them for investment, efficient portfolio management and for hedging purposes. The use of derivatives should not lead to a significant change in the risk profile of the Fund. ■ The performance of the Fund will be benchmarked against the MSCI Europe Index. Recommendation ■ This Fund may not be appropriate for investors who plan to withdraw their money within 5 years. How to buy ■ You may buy or sell shares on a daily basis (but not weekends or Bank Holidays). Orders must be received by 11.59a.m. (Irish time) for execution at midnight valuation point. Further details can be found at www.liontrust.co.uk. Investment process ■ The process starts with a thematic approach in identifying the key structural trends that will shape the global economy of the future. We currently invest in three transformative trends (Better Resource Efficiency; Improved Health; and Greater Safety and Resilience) and 20 themes within these trends such as technological and medical advancements. ■ The team then invests in well run companies whose products and operations capitalise on these transformative changes. ■ While themes are at the heart of the investment idea generation, there are three further criteria all potential holdings have to satisfy: – Broader sustainability of the company: While a company might have significant exposure to a theme, the team has to check how sustainable the rest of its activities are. – Business fundamentals: The team assesses a company's ability to generate high returns on equity.