The investment objective of the Fund is to track the performance before fees and expenses of an index which is designed to reflect the performance of the shares of small capitalisation companies across European developed markets, which meet certain minimum ESG criteria. In order to seek to achieve the investment objective, the Fund will adopt a Direct Investment Policy and will aim to replicate or track before fees and expenses, the performance of the MSCI Europe Small Cap Low Carbon SRI Screened Select Index, by holding a portfolio of equity securities that comprises all, or a substantial number of, the securities comprised in the Reference Index.