The fund is passively managed. The aim is to reflect the performance of the MSCI USA Minimum Volatility (USD) Index which is designed to reflect the performance of certain shares in large and medium listed companies in the USA which are included in the MSCI USA Index (Parent Index). In order to be eligible for inclusion in the index, shares from the companies included in the Parent Index are selected using a minimum volatility strategy. Volatility is a way of measuring the movement of prices of shares over time. In general, shares whose price varies significantly on a regular basis are considered to have higher volatility than those with less significant price movements.