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 focused on the countries of Asia and Oceania (APAC). In order to seek to achieve its investment objective, the 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 Future of Defence Indo-Pac ex-China Index (the Index).