The investment objective of the Fund is to track the price and the performance, before fees and expenses, of an index that provides exposure to the performance of companies in the defence (including cyber defence) industry excluding the USA and focussed on Europe. In order to seek to achieve its investment objective, the Sub-Fund will adopt a passive management investment strategy and will seek to employ a replication methodology, meaning as far as possible and practicable, it will invest in the securities in proportion to the weightings comprising the VettaFi European Future of Defence Screened Index (the Index).