Magna MENA Fund N Acc

Investment Objective: The investment objective of the Fund is to achieve capital appreciation through investment in a portfolio consisting primarily of MENA Securities. Investment Policy: The Fund may invest in MENA Securities listed or traded on Recognised Exchanges located in MENA and/or Recognised Exchanges. The Fund may invest in unlisted securities subject to the investment restrictions disclosed in the Prospectus and applicable Supplement. The Fund will invest at least two thirds of its total assets (without taking into account ancillary liquid assets) in MENA Securities. Investments in MENA Debt shall not exceed 15% of the Fund’s total assets. Debt instruments in which the Fund may invest shall include debt securities including government bonds and Treasury Bills, freely transferable promissory notes, bank debt, commercial paper and convertible securities. Such debt investments will be listed on a Recognised Exchange or be eligible for settlement through either Clearstream or Euroclear. The Fund may invest up to one third of its total assets (without taking into account ancillary liquid assets) in equity and debt securities issued by, or in relation to, companies located outside MENA and carrying out business in MENA, without such business being predominant, or companies located in the neighbouring countries of MENA, which in accordance with the UCITS Regulations, will be listed or traded on Recognised Exchanges. The Fund is considered to be actively managed in reference to the S&P Pan Arab Composite Index (“Benchmark”) by virtue of the fact that it uses the Benchmark for performance comparison purposes and it seeks to outperform the Benchmark. However, the Benchmark is not used to define the portfolio composition of the Fund and the Fund may be wholly invested in securities which are not constituents of the Benchmark. The Fund may invest in certain derivative instruments to gain efficient exposure to underlying companies, which may result in the Fund being leveraged. The base currency of the Fund is Euro. Recommendation: The Fund should be considered as a medium to long-term investment. This Class is an accumulating class and does not intend to distribute any income arising from the investments that it holds. Other classes in the Fund are either accumulating or distributing. The Directors are empowered to declare and pay dividends or Shares of any Class or Fund in the Company. Your attention is drawn to the section of the Prospectus entitled “The Shares” and the sub-section therein entitled “Dividends and Distributions” for further information. You may redeem your Shares in the Fund on any day on which banks in Dublin, London, Dubai, Riyadh and Cairo are open for business.