Ossiam Shiller Barclays Cape Global Sector Value Fund 1C (USD)

Fund objective

Investment objective The investment objective of Ossiam Shiller Barclays CAPE® Global Sector Value (the “Fund”) is to replicate, before the Fund's fees and expenses, the performance of the Shiller Barclays CAPE® Global Sector Net TR Index (the “Index”) closing level. The Fund is passively managed. The Index is a total return index (net dividends reinvested) expressed in USD, sponsored by Barclays and calculated and published by Bloomberg Index Services Limited. The Index reflects the performance of a dynamic long exposure to a selection of Global equity sectors which are selected every month according to their Relative CAPE® (Cyclically Adjusted Price Earnings) Indicator and recent price variations. Exposure to Global equity sectors is achieved through MSCI Global Sector Indices. The anticipated level of tracking error in normal conditions is 0.50% over a one-year period. For a detailed description of the Index, please see section "Description of the Index" in the relevant Fund appendix in the prospectus (the “Prospectus”). Investment policy In order to achieve its investment objective, the Fund will primarily use swaps with the objective of tracking the Index performance through synthetic replication. In that case, the Fund will invest in a portfolio of assets, the performance of which will be exchanged against the performance of the Index or a related index, or a portfolio of its constituents through swap agreements with Barclays, a first-class financial institution that specialises in this type of transaction, as the swap counterparty. This method implies a counterparty risk as described in the relevant Fund appendix of the Prospectus. The net asset value per Share Class of the Fund will therefore increase, or decrease, according to the evolution of the Index. The Fund may, with due regard to the best interest of its shareholders, decide to switch partially or totally from synthetic replication (as described above) to physical replication. The Fund shall be permanently invested for a minimum of 60% in equities or rights issued by companies having their registered office in OECD countries. In addition, and on an ancillary basis, the Fund may use other derivatives for hedging and investment purposes, as described under "Use of Derivatives, Special Investment and Hedging Techniques" in the Prospectus. The Reference Currency of the Fund is the US Dollar. The UCITS ETF 1C(USD) Shares are listed for trading on one or more stock exchanges and investors may buy or sell Shares through their usual broker on any trading day of the relevant stock exchange(s) which is also a Dealing or, through a fund platform. Please contact your broker for additional information. The UCITS ETF 1C(USD) Share Class is an accumulating Share Class therefore income derived from the Fund is reinvested. Please refer to the section entitled “Subscription, Transfer, Conversion and Redemption of shares” and the section entitled “Practical information” of the Fund appendix in the Prospectus for additional information. Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within less than 5 years.