Sustainable, Responsible &/or ESG Policy:

Objectives and Investment Policy

The Fund aims to provide a return on your investment through a combination of capital growth and income on the Fund’s assets and invest in a manner consistent with the principles of environmental, social and governance (ESG) investing.

The Fund invests globally in equity securities (e.g. shares), fixed income securities (such as bonds), funds, cash, deposits and money market instruments (i.e. debt securities with short term maturities) in accordance with the Fund’s ESG Policy described below.

The Fund is actively managed and the extent to which the Fund is invested in these asset classes may vary without limit depending on market conditions and other factors at the investment adviser’s (IA) discretion. In selecting these, the IA may refer to a composite benchmark comprising the 50% MSCI World Index and 50% Bloomberg Global Aggregate Bond Index hedged to EUR (Index) for risk management purposes. The IA is not bound by the components or weighting of the Index when selecting investments. The IA may also use its discretion to invest in securities not included in the Index in order to take advantage of specific investment opportunities.

The Fund’s investments may be issued by governments, government agencies, companies and supranationals (e.g. the International Bank for Reconstruction and Development). These may include securities with a relatively low credit rating or which are unrated.

The Fund’s total assets will be invested in accordance with its ESG Policy as disclosed in the prospectus. For further details regarding the ESG characteristics please refer to the prospectus and the BlackRock website at https://www.blackrock.com/baselinescreens. More than 90% of the issuers of securities the Fund invests in are ESG rated or have been analysed for ESG purposes. The weighted average ESG rating of the Fund will be higher than the ESG rating of the Index after eliminating at least 20% of the least well-rated securities from the Index.

The Fund may obtain indirect exposure (through, including but not limited to, financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) and units in collective investment schemes) to securities which may not satisfy these ESG criteria. The IA may use FDIs for investment purposes in order to achieve the investment objective of the Fund, and/or to reduce risk within the Fund’s portfolio, reduce investment costs and generate additional income. The Fund may, via FDIs, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets). Any ESG rating or analysis referenced above will apply only to the underlying securities of FDIs used by the Fund.

The Fund’s ESG score will be calculated as the total of each issuer ESG score (where applicable), weighted by its market value. The IA will create a portfolio that seeks to deliver a superior ESG outcome versus the Index and the weighted average ESG rating of the Fund will be higher than the ESG rating of the Index. The Fund will seek to have a carbon emissions intensity score that is lower than the Index.

(Source: KID, as at April 2024)

SDR Labelling:

Not eligible to use label