- The objective of the Fund is to achieve long-term capital growth. - The Fund intends to invest primarily in shares of companies of real estate (including Real Estate Investment Trusts ("REITs") and infrastructure companies, which meet the Fund’s environmental, social and governance (ESG) criteria. - The Fund will invest in companies that, in the opinion of the investment manager, are backed by tangible assets with values derived from high barriers to supply and increasing replacement costs. - Screening will be employed to exclude companies and/or issuers which derive or generate a pre-determined level of revenue or turnover from activities such as (but not limited to) fossil fuel industries, activities related to thermal coal mining, extraction of tar sands and oil shale. Please refer to the Appendix A of the Prospectus for more details on the Fund’s exclusions list.
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- Positive screening will also be used to identify higher rated issuers, based on the investment manager‘s proprietary rating that uses internal and third party data, which in the view of the investment manager meet sufficient practice and standards in terms of ESG and sustainable development for inclusion in the Fund’s universe. - The Fund is actively managed and is not constrained by its benchmark, the S&P Real Assets Equity Index, which is used for comparison purposes. However, the majority of the Fund’s holdings are likely to be components of the benchmark. As an actively managed fund, this overlap will change and this statement may be updated from time to time. - The Fund has broad discretion over portfolio construction and therefore securities, weightings and risk characteristics will differ. As a result, it is expected that over time the risk return characteristics of the Fund may diverge materially to the benchmark.