Equity MENA M USD (C)

To achieve long-term capital growth. Specifically, the Sub-Fund seeks to outperform (after applicable fees) the S&P Pan Arab Large Mid Cap index over the recommended holding period. 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. The Sub-Fund does not aim to replicate the reference indicator and may therefore significantly deviate from it. 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, all attributable income within the Sub-Fund; thereby accumulating value in the price of the accumulation shares. 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.