The Fund is an actively-managed ETF, which aims to achieve a long-term return in excess of the MSCI Europe Index (the Benchmark) by investing in an actively-managed portfolio of European equities. In order to achieve the investment objective, the Fund will invest primarily in a portfolio of equity and equity-related securities including warrants (received only as a result of corporate actions), tracking stocks (i.e. a special stock offering issued by a company which tracks the financial performance of a particular segment or division of that company) and depositary receipts of companies from Europe.