Investment Approach

The Fund seeks to provide a total return over a period of at least 5 years whilst also seeking to outperform the MSCI All Country World Index EUR (the “Index”). The Fund will invest at least 80% of its total assets in equity securities (i.e. shares) and equity-related investments (i.e. other investments whose value is related to equities) of companies worldwide in accordance with the Fund’s ESG Policy as outlined below. The Fund will also aim to reflect the performance characteristics of equity securities which are selected and weighted by the Investment Manager (“IM) on account of their higher aggregate exposure to certain ‘style’ factors: (i) Momentum: companies or groups of companies are preferred based upon price performance in the previous months relative to that of other companies or groups of companies in the universe; (ii) Low Volatility: companies are preferred based on metrics assessing their market volatility; (iii) Quality: companies are preferred based on metrics aimed at demonstrating good quality characteristics such as the profitability of the company, the stability of its earnings and low levels of leverage/debt; (iv) Value: companies are preferred based on metrics aimed at assessing the cheapness or expensiveness relative to their peers and/or their own history; and (v) Size: companies are preferred if they are considered small based on a metric such as their market capitalisation, sales or total assets. Within 6 months from launch, the IM will, in addition to the investment criteria set out above, take into account certain environmental, social and governance (“ESG”) related characteristics when selecting the investments to be held by the Fund. The IM will seek to limit and/or exclude direct investment (as applicable) in issuers which, in the IM’s opinion, have certain levels of exposure to, or ties with, certain sectors. However, the Fund’s asset allocation will not solely be driven by this ESG analysis, rather such considerations will be utilised by the IM in determining whether an investment may be appropriate for the Fund. Such sectors may include (but are not limited to): (i) the production of controversial weapons (including, but not limited to, cluster munitions, anti-personnel mines, white phosphorus used in incendiary weapons or munitions, depleted uranium munitions, biological, chemical and nuclear weapons); (ii) thermal coal extraction and generation; (iii) the production and distribution of tar sands; (iv) tobacco production; (v) issuers which have failed to comply with UN Global Compact violations (which cover human rights, labour standards, the environment and anti-corruption) and; (vi) such other activities which the IM has determined (in its absolute discretion) conflicts with the IM’s consideration of ESG related issues or characteristics. The Fund will also seek to have a lower Carbon Emissions Intensity (meaning Score 1 and Score 2 GHF emissions normalised by revenue in US Dollars) than the Index. For further details regarding the ESG characteristics (and the applicable levels) please refer to the prospectus and the BlackRock website at: https://www.blackrock.com/nl/particuliere-beleggers/literature/prospectus/1895-fonds-fgr-esg-policy.pdf