The Sub-Fund is an index-tracking UCITS passively managed. The Reference Currency of the Sub-Fund is the US dollar (USD). The investment objective of (the “Sub-Fund”) is to track both the upward and the downward evolution of the MSCI World Net Total Return USD Index (the “Index”) denominated in US Dollars and representative of large-cap and midcap companies listed on developed markets, while minimizing 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 0.50%.