The Share Class is a share class of a Fund which aims to achieve a total return, taking into account both capital and income returns, which reflects the return of the MSCI World ex USA Index, the Funds benchmark index (Index). The Share Class, via the Fund, is passively managed and aims to invest so far as possible and practicable in the equity securities (e.g. shares) that make up the Index. The Index measures the performance of large and mid-capitalisation stocks across developed market countries excluding the United States which comply with MSCI's size, liquidity, and free-float criteria.