Objectives and Approach

The sub-fund aims to outperform its reference indicator through exposure to the small, mid and large cap equity markets of Asian emerging countries. The reference indicator is the MSCI EM Asia Ex-China IMI 10/40 Capped NR index. The portfolio is mainly invested in equities (at least 60%) in the emerging markets in Asia from all economic sectors. It will be actively exposed to emerging markets in Asia through the selection of small, medium and large capitalization companies offering mid to long-term return prospects and growth potential selected on the basis of their company fundamentals. The sub-fund uses derivatives for hedging or arbitrage purposes, or to expose the portfolio to the following risks (directly or via indices): currencies, bonds, equities (all categories of capitalisation), ETFs, dividends, volatility, variance (the latter two categories for up to 10% of net assets) and commodities (up to 10% of assets). The derivatives available are options (vanilla, barrier, binary), futures and forwards, swaps (including performance) and CFDs (contracts for difference) on one or more underlyings. Up to 10 % of the net assets may be invested in contingent convertible bonds (“CoCos”). CoCos are regulated subordinated debt instruments that are complex, but consistent in nature. Please refer to the prospectus for more information. The sub-fund may invest up to 10% of its net assets in units or shares of investment funds. This sub-fund is an actively managed UCITS. The investment manager has discretion over the composition of its portfolio, subject to the stated investment objectives and policy. the sub-fund's investment universe is totally independent from the indicator. The sub-fund's investment strategy is not dependent on the indicator; therefore, the sub-fund's holdings and the weightings may substantially deviate from the composition of the indicator. There is no limit set on the level of such deviation. The sub-fund promotes environmental/social characteristics in accordance with Article 8 of the Sustainable Finance Disclosure Regulation ('SFDR') through best-in-universe and best-effort approaches, and an active engagement policy. Extra-financial analysis leads to a reduction of at least 20% of the sub-fund's investment universe. The sub-fund commits to invest at least 50% of its net assets in sustainable investments within the meaning of SFDR. The sustainable investment definition used by the sub-fund is based on the United Nations Sustainable Development Goals ('SDGs'). This framework is one of the several that can be used to illustrate positive results; other frameworks may yield different results. The sustainability risk of the sub-fund may differ from that of its reference indicator.