The Fund is a sub-fund of BlackRock Authorised Contractual Scheme I taking the form of a co-ownership scheme. As a consequence of this, the Fund may be treated as tax transparent for the purpose of income and/or capital gains by relevant taxing jurisdictions. Each investor should take appropriate professional advice as to the tax treatment of their investment in the Fund. Investors in the Fund must be Eligible Investors as defined in the Fund’s prospectus and must have completed all relevant documentation prior to the purchase of units in the Fund. The Fund aims to provide a return on your investment (generated through an increase to the value of the assets held by the Fund and/or income received from those assets) by tracking closely the performance of the FTSE Custom Developed Europe ex UK ESG Screened Index , the Fund’s benchmark index (the “Benchmark Index”). The Fund invests in equity securities (e.g. shares) of companies that make up the Benchmark Index. The Fund may use derivatives (i.e. investments the prices of which are based on one or more underlying assets) to help achieve its investment objective or for efficient portfolio management purposes (EPM) (i.e. to reduce risk or costs within the Fund's portfolio, or generate additional income). The use of derivatives is expected to be limited. The Fund may engage in short-term secured lending of its investments to certain eligible third parties to generate additional income and off-set costs.