The investment objective of the Fund is to provide investors with a total return, taking into account both capital and income returns, which reflects, before fees and expenses, the return of the MSCI Europe Index. The Index is designed to reflect the performance of large and mid-capitalisation companies across developed market countries in Europe which comply with MSCI's size, liquidity and free float criteria. The investment policy of the Fund is to track the performance of the Index as closely as possible, regardless of whether the Index level rises or falls, while seeking to minimise the tracking error between the Funds performance and that of the Index.