The fund is passively managed. The fund aims to reflect the performance, before fees and expenses, of the MSCI World Momentum (USD) Index (index) which is designed to reflect the performance of certain shares in large and medium listed companies across developed countries which are included in the MSCI World Index (Parent Index). The index is designed to outperform the equity market (represented by the MSCI World Index), through a momentum-based investment strategy. In order to be eligible for inclusion in the index, shares must be included as constituents within the Parent Index and are then selected using a momentum based strategy.