The objective of the Sub-Fund is to provide exposure to the European green bond market whilst maximising total returns. The Sub-Fund seeks to achieve its investment objective by investing primarily in bonds which have been labelled as “green” and are denominated in European currencies. For the avoidance of doubt, investors should note that the Sub-Fund will not seek to track the performance of the Benchmark, rather the Sub-Fund will hold a portfolio of actively selected and managed investments. The Benchmark has been included as a point of reference against which the performance of the SubFund may be measured. Under normal market conditions, the Sub-Fund will invest at least 70% of its Net Asset Value in bonds that are labelled as “green”, with up to 30% of its Net Asset Value invested in bonds which are deemed by the Investment Manager to be supportive of a low-carbon future, or supportive of the Paris climate agreement using the criteria set out below.