The investment objective of the Fund is to seek to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the MSCI Europe Consumer Discretionary 20/35 Capped Index. The Index is designed to measure the performance of large and mid-capitalisation stocks across developed European markets which are within the Global Industry Classification Standard (GICS) consumer discretionary sector based on MSCI's Global Investable Market Indices methodology and which comply with MSCI's size, liquidity, and free-float criteria.