The investment objective of the fund is to track both the upward and the downward evolution of the “SGI Pan Africa Net Total Return Index” (the "Index") denominated in Euro in order to offer an exposure to the African equities market or to companies whose main activity is on the African continent – while minimising the volatility of the difference between the return of the Sub-Fund and the return of the Index (the “Tracking Error”). The anticipated level of the tracking error under normal market conditions is expected to be up to 2%.