Equity MENA I USD (C)

To achieve long-term capital growth. The Sub-Fund invests at least 67% of assets in equities and equity-linked instruments of companies that are headquartered, or do substantial business, in Middle East and North Africa (MENA). The Sub-Fund may invest in P-Notes for the purpose of efficient portfolio management. There are no currency constraints on these investments. The Sub-Fund may use derivatives for hedging and efficient portfolio management. Benchmark : The Sub-Fund is actively managed by reference to and seeks to outperform the S&P Pan Arab Large Mid Cap Index. The Sub-Fund is mainly exposed to the issuers of the Benchmark, however, the management of the Sub-Fund is discretionary, and will be exposed to issuers not included in the Benchmark. The Sub-Fund monitors risk exposure in relation to the Benchmark however the extent of deviation from the Benchmark is expected to be material. Management Process : The Sub-Fund integrates Sustainability Factors in its investment process as outlined in more detail in section "Sustainable Investment" of the Prospectus. The investment team actively manages the Sub-Fund's portfolio by combining top-down and bottom-up strategies: geographical allocation, sector allocation within each country and equity selection based on growth potential and valuation. The accumulation share automatically retains, and re-invests, net investment incomes within the Sub-Fund when the distribution share pays dividends in September of each year. The minimum recommended holding term is 5 years. Shares may be sold or redeemed (and/or converted) on any dealing day (except otherwise stated in the prospectus) at the respective dealing price (net asset value) in accordance with the articles of incorporation. Further details are provided in the prospectus of the UCITS.