The investment objective of the Fund is to seek to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the MSCI World Consumer Discretionary ESG Reduced Carbon Select 20 35 Capped Index. In order to achieve this investment objective, the investment policy of the Fund is to invest in a portfolio of equity securities that, as far as possible and practicable, consists of the component securities of the MSCI World Consumer Discretionary ESG Reduced Carbon Select 20 35 Capped Index, this Fund’s Benchmark Index.