Objectives and Approach

The Fund aims to maximise the return on your investment through a combination of capital growth and income on the Fund’s assets. The Fund invests at least 70% of its total assets in the equity securities (e.g. shares) of companies globally whose predominant economic activity comprises the research, development, production and/or distribution of future transport technology. The Fund will focus on companies that generate revenues from the transition to renewable energy such as electric, autonomous and/or digitally connected vehicles. In normal market conditions the Fund will invest in a portfolio of equity securities of companies with large, medium and small market capitalisation (market capitalisation is the share price of the company multiplied by the number of shares issued) that are involved in relevant activities as described in the prospectus. The companies are rated by the Investment Adviser (IA) based on their ability to manage the risks and opportunities associated with the future of transport theme and their ESG risk and opportunity credentials. The Fund adopts a “best in class” approach to sustainable investing. This means that the Fund selects the best issuers (from an ESG perspective) for each relevant sector of activities (without excluding any sector of activities). More than 90% of the issuers of securities the Fund invests in are ESG rated or have been analysed for ESG purposes. The Fund may gain limited exposure to issuers that do not meet the renewable energy and/or the ESG criteria described above. The IA may use financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets) 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 FDI’s used by the Fund. The Fund is actively managed. The IA has discretion to select the Fund's investments and is not constrained by any benchmark in this process. The MSCI All Countries World Index (MSCI ACWI) should be used by investors to compare the performance of the Fund. The weighted average ESG rating of the Fund will be higher than the ESG rating of the MSCI ACWI after eliminating at least 20% of the least well-rated securities from the index. Recommendation: This Fund may not be appropriate for short-term investment.