derivatives for hedging and investment purposes and enter     securities from the Investment Universe that: 
into securities lending and borrowing transactions as well as 
repurchase agreement transactions, as described under "Use of 
Derivatives, Special Investment and Hedging Techniques" in 
the Prospectus.                                               - undergo high-risk controversies; 
                                                              - are involved in controversial weapons business (e.g., 
                                                              cluster munitions or chemical weapons); 
The Reference Currency of the Fund is the Euro. 
                                                              - have significant operations in the tobacco or coal 
                                                              industries (based on an assessment by the ESG Providers); 
Description of the Index:                                     - are not compliant with the Ten Principles of the UN 
                                                              Global Compact (https://www.unglobalcompact.org/ 
                                                              what-is-gc/mission/principles); 
General Description                                           - are referenced in major Scandinavian institutions' 
                                                              (such as Norges Bank) publicly available exclusion lists; 
The iSTOXX(R) Europe Minimum Variance Index reflects the      or 
performance of a dynamic selection of the 300 most liquid 
stocks from the STOXX(R) Europe 600 Index (the "Base Index")  - for stocks that are involved in the electricity 
which tracks the performance of 600 leading companies in      production sub-sector, those that have more than 20% of 
major European industries in 18 European countries.           their production from coal-fired plants. 
 
Constituents of the Index will be weighted according to an    Securities that pass the Ethical Filter are then screened 
optimization procedure performed by the Index Provider. As    through a liquidity filter (the "Liquidity Filter") to 
such, sector and company exposures in the Index will differ   exclude the least liquid stocks. 
from those of the Base Index. 
 
 
                                                              Securities that pass the Liquidity Filter are screened 
                                                              according to the Management Company's quantitative model, 
                                                              based on machine learning techniques. The Management 
Index Methodology                                             Company's quantitative model aims to identify securities 
                                                              which represent potential investment opportunities as 
The Index composition will be reconstituted on a monthly      opposed to potential investment risks. More precisely, 
basis subject to certain provisions and composition           the model uses machine learning techniques to integrate 
restrictions. Only the 300 most liquid stocks (based on their and process a very large set of ESG and financial data 
recent average daily volumes on their respective primary      and to select the patterns that show a significant link 
exchange) are eligible for inclusion in the Index.            between ESG characteristics and financial performance for 
                                                              the securities in the Investment Universe. The model does 
                                                              this through quantitative statistical analysis which 
                                                              includes an analysis of the previous results from the 
The optimization procedure uses statistical inputs such as    model compared to actual performance. The model uses this 
estimates of the historical volatility of eligible stocks and comparison to refine continuously the quantitative 
their degree of correlation                                   statistical analysis techniques. 
 
and seeks to minimize the expected volatility of the Index.   The outcome of the machine learning process consists of a 
The resulting Index composition must comply with the          classification of eligible securities (i.e., securities 
following constraints (at the time of reconstitution):        from the Investment Universe that pass the Liquidity 
                                                              Filter) into those that, on balance, represent an 
                                                              "investment opportunity" (i.e., securities that, given 
                                                              their ESG profile, have a positive outlook) and those 
* the Index must be fully invested,                           that, on balance, represent an "investment risk" (i.e., 
                                                              securities that, given their ESG profile, have a negative 
* the maximum exposure to a single stock shall not exceed 5%  outlook). Securities that are classified as "investment 
of the current value of the Index,                            risk" are excluded from the Investment Universe, with the 
                                                              remaining securities (i.e., those classified as 
* the maximum exposure to an industry sector shall not exceed "investment opportunity") being the "Eligible Universe". 
20% of the current value of the Index, 
 
* a proprietary method ensures that a significant number of 
stocks are included in the Index.                             The Management Company analyses the historical 
                                                              volatilities of the price of each security in the 
                                                              Eligible Universe as well as the historical correlations 
                                                              among them. It then selects and weights certain 
No Fees are charged at the Index level when changes are made  securities so that the resulting portfolio has minimum 
to the composition of the Index.                              expected volatility while complying with the following 
                                                              constraints (at the time of reconstitution): 
 
                                                              - The portfolio must be fully invested, no short selling; 
The Index will be calculated and published on a real time and 
end-of-day basis by the Index Provider using the latest       - The maximum exposure to a single stock issuer shall not 
available prices and number of units of each Index            exceed 4.5% of the current value of the portfolio; 
constituent. The Index Provider may adjust the number of 
units of each constituent due to corporate actions (such as   - The maximum exposure to an industry sector shall not 
stock splits, stock dividends, spin-offs and rights           exceed 20% of the current value of the portfolio; 
offerings) in accordance with its standard methodology for 
the Base Index.                                               - The maximum exposure to stock classified as REITS (Real 
                                                              Estate Investment Trusts) or stocks issued by companies 
                                                              which do not have their registered office in the European 
                                                              Economic Area shall not exceed 20% of the current value 
Capital gains and net income of the Fund will be capitalized  of the portfolio; 
and no dividend will be payable to Shareholders except for 
the distributing Shares for which all or part of the capital  - Total greenhouse gas emissions must be 40% lower than 
and/or income may be distributed once or several times a year the emissions related to the Benchmark as defined above 
as may be decided by the Board of Directors. Please refer to  in the Investment Policy, (based on an assessment of the 
the Prospectus for additional information.                    absolute value of the previous year's carbon emissions 
                                                              data for each company); 
 
                                                              - Potential greenhouse emissions from reserves must be 
The recommended investment horizon is 5 years.                40% lower than the potential emissions related to the 
                                                              Benchmark (based on an assessment which uses potential 
                                                              emissions figures calculated using the previous year's 
                                                              oil reserve data of each company, where applicable); and 
                                                              - ESG rating must be at least 10% higher than the ESG 
                                                              rating of the Benchmark (based on ESG ratings for each 
                                                              company). 
 
                                                              In certain market conditions, the composition of the 
                                                              equities in the Eligible Universe may make it impossible 
                                                              to perform the weighting optimisation while complying 
                                                              exactly with the list of constraints above. In such 
                                                              circumstances, the Management Company can rateably reduce 
                                                              some of the constraints (for example, by gradually 
                                                              reducing the 40% limits). 
 

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April 14, 2021 04:47 ET (08:47 GMT)