## With the exception of permitted investment in unlisted securities, investment will be limited to the following stock exchanges and regulated markets:
- Any stock exchange or market in any Member State or in any of the following member countries of the OECD: Australia, Canada, Japan, New Zealand, Norway, Switzerland, the United Kingdom and the United States of America.
- Any of the following exchanges or markets: Argentina	Buenos Aires Stock ExchangeCordoba Stock Exchange La Plata Stock Exchange Mendoza Stock Exchange Rosario Stock ExchangeBahrain	Bahrain Stock Exchange Bangladesh	Chittangong Stock ExchangeDhaka Stock ExchangeBotswana	Botswana Stock ExchangeBrazil	Bahia-Sergipe-Alagoas Stock Exchange Brasilia Stock ExchangeExtremo Sul Porto Allegre Stock Exchange Minas Esperito Santo Stock Exchange Parana Curitiba Stock ExchangePernambuco e Paraiba Recife Stock Exchange Regional Fortaleza Stock ExchangeRio de Janeiro Stock Exchange Santos Stock ExchangeSao Paulo Stock ExchangeChile	Santiago Stock Exchange Bolsa Electronica de ChileChina	Shanghai Securities Exchange Shenzhen Stock ExchangeColombia	Bogota Stock Exchange Medellin Stock Exchange Occidente Stock ExchangeCroatia	Zagreb Stock ExchangeEgypt	Cairo Stock Exchange Alexandria Stock ExchangeGhana	Ghana Stock Exchange Hong Kong	Hong Kong Stock ExchangeIndia	Bombay Stock Exchange Madras Stock Exchange Delhi Stock Exchange Ahmedabad Stock Exchange Bangalore Stock Exchange Cochin Stock Exchange Gauhati Stock Exchange Magadh Stock Exchange Pune Stock Exchange Hyderabad Stock ExchangeLudhiana Stock Exchange Uttar Pradesh Stock Exchange Calcutta Stock ExchangeIndonesia	Jakarta Stock Exchange Surabaya Stock ExchangeIsrael	Tel Aviv Stock ExchangeJordan	Amman Stock ExchangeLebanon	Beirut Stock ExchangeKenya	Nairobi Stock ExchangeKazakhstan	KASEKuwait	Kuwait Stock ExchangeMalaysia	Kuala Lumpur Stock Exchange Bumiputra Stock ExchangeMauritius	Stock Exchange of MauritiusMexico	Bolsa Mexicana de ValoresMorocco	Casablanca Stock ExchangeNigeria	Lagos Stock Exchange Kaduna Stock ExchangePort Harcourt Stock ExchangeOman	Muscat Securities MarketPakistan	Karachi Stock Exchange Lahore Stock Exchange Islamabad Stock ExchangePeru	Lima Stock ExchangePhilippines	Philippines Stock Exchange Qatar	Doha Stock ExchangeRussia	St. Petersburg Stock Exchange Moscow International Stock ExchangeMoscow Interbank Currency Exchange (Investment will only be made in equity securities)Singapore	Singapore Stock Exchange SESDAQSouth Africa	Johannesburg Stock Exchange Sri Lanka	Colombo Stock Exchange South Korea	Korea Stock ExchangeTaiwan	Taiwan Stock ExchangeThailand	Thailand Stock ExchangeTurkey	Istanbul Stock ExchangeUkraine	Ukraine PFTSUkrainian Stock ExchangeUkrainian Interbank Currency ExchangeVenezuela	Maricaibo Stock ExchangeCaracas Stock ExchangeZambia	Lusaka Stock Exchange
- The following exchanges or markets:
	- the market organised by the members of the International Capital Market Association (formerly the International Securities Market Association);
	- the market conducted by the “listed money market institutions” as described in theBank of England publication “The Regulations of the Wholesale Cash and OTC Derivatives Markets in Sterling, Foreign Exchange and Bullion” dated April 1988, (as amended from time to time);

Translation (ENFR, 2021-03-04):
## À l’exception de l’investissement autorisé en titres non cotés, l’investissement sera limité aux bourses et marchés réglementés ci-après :
- Toute bourse ou tout marché situé dans un État Membre ou dans l’un des pays membres de l’OCDE suivants : Australie, Canada, Japon, Nouvelle-Zélande, Norvège, Suisse, le Royaume-Uni et les États-Unis d’Amérique.
- L’une des bourses ou l'un des marchés suivants : Argentine	Buenos Aires Stock ExchangeCordoba Stock Exchange La Plata Stock Exchange Mendoza Stock Exchange Rosario Stock ExchangeBahreïn	Bahrain Stock Exchange Bangladesh	Chittangong Stock ExchangeDhaka Stock ExchangeBotswana	Botswana Stock ExchangeBrésil	Bahia-Sergipe-Alagoas Stock Exchange Brasilia Stock ExchangeExtremo Sul Porto Allegre Stock Exchange Minas Esperito Santo Stock Exchange Parana Curitiba Stock ExchangePernambuco e Paraiba Recife Stock Exchange Regional Fortaleza Stock ExchangeRio de Janeiro Stock Exchange Santos Stock ExchangeSao Paulo Stock ExchangeChili	Santiago Stock Exchange Bolsa Electronica de ChileChine	Shanghai Securities Exchange Shenzhen Stock ExchangeColombie	Bogota Stock Exchange Medellin Stock Exchange Occidente Stock ExchangeCroatie	Zagreb Stock ExchangeÉgypte	Cairo Stock Exchange Alexandria Stock ExchangeGhana	Ghana Stock Exchange Hong Kong	Hong Kong Stock Exchange Inde	Bombay Stock ExchangeMadras Stock Exchange Delhi Stock Exchange Ahmedabad Stock Exchange Bangalore Stock Exchange Cochin Stock Exchange Gauhati Stock ExchangeMagadh Stock Exchange Pune Stock Exchange Hyderabad Stock Exchange Ludhiana Stock Exchange Uttar Pradesh Stock Exchange Calcutta Stock ExchangeIndonésie	Jakarta Stock Exchange Surabaya Stock ExchangeIsraël	Tel Aviv Stock ExchangeJordanie	Amman Stock ExchangeLiban	Beirut Stock ExchangeKenya	Nairobi Stock ExchangeKazakhstan	KASEKoweït	Kuwait Stock ExchangeMalaisie	Kuala Lumpur Stock Exchange Bumiputra Stock ExchangeÎle Maurice	Stock Exchange of Mauritius Mexique	Bolsa Mexicana de ValoresMaroc	Casablanca Stock ExchangeNigéria	Lagos Stock Exchange Kaduna Stock ExchangePort Harcourt Stock ExchangeOman	Muscat Securities MarketPakistan	Karachi Stock Exchange Lahore Stock Exchange Islamabad Stock ExchangePérou	Lima Stock Exchange Philippines	Philippines Stock Exchange Qatar	Doha Stock ExchangeRussie	St. Petersburg Stock Exchange Moscow International Stock ExchangeMoscow Interbank Currency Exchange (les investissements porteront uniquement sur des titres de capitaux)Singapour	Singapore Stock Exchange SESDAQAfrique du Sud	Johannesburg Stock Exchange Sri Lanka	Colombo Stock Exchange Corée du Sud	Korea Stock ExchangeTaïwan	Taiwan Stock ExchangeThaïlande	Thailand Stock ExchangeTurquie	Istanbul Stock ExchangeUkraine	Ukraine PFTSUkrainian Stock ExchangeUkrainian Interbank Currency Exchange Venezuela	Maricaibo Stock ExchangeCaracas Stock ExchangeZambie	Lusaka Stock Exchange
- Les bourses ou marchés suivants :
	- Le marché organisé par les membres de l'International Capital Market Association (anciennement International Securities Market Association) ;
	- Le marché conduit par « the listed money market institutions » décrit à la publication de Bank of England publication « The Regulations of the Wholesale Cash and OTC Derivatives Markets in Sterling, Foreign Exchange and Bullion » en date d’avril 1988, (modifiées le cas échéant);