# Objectives and Investment Policy
## Investment Objective:

## The Fund aims to track as closely as possible the returns of the MSCI World Index (the Index). The Fund will invest in or gain exposure to shares of companies which make up the Index.

## Investment Policy:

## The Index is made up of large and mid-cap companies of the world’s developed countries, as determined by the Index Provider.
The Fund is passively managed and utilises an investment technique called optimisation. This technique seeks to minimise the difference in return between the Fund and the Index by taking into account tracking error (the risk that the Fund return varies from the Index return) and trading costs when constructing a portfolio.
The Fund will not necessarily invest in every company that comprises the Index, or invest proportionally to each company’s weight in the Index. It can also invest in companies outside the Index but which are expected to provide similar performance and risk characteristics to certain Index constituents. If the Fund cannot invest directly in the companies, it may gain exposure by using other investments such as depositary receipts or derivatives.

## The Fund may invest up to 10% of its assets in total return swaps and contracts for difference. However, this is not expected to exceed 5%.

## The Fund may invest up to 10% of its assets in other funds, including HSBC funds.

## The Fund may also invest in derivatives for efficient portfolio management purposes (such as to manage risk and costs, or to generate additional capital or income) and for investment purposes.
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## The Fund may enter into securities lending transactions for up to 30% of its assets. However, this is not expected to exceed 25%.
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## The reference currency of the Fund is USD. The reference currency of this share class is USD.
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## Income is distributed.
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## Authorised Participants only may deal in the Fund’s shares directly with the UCITS.
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## The Fund’s shares are listed on one or more stock exchange(s).
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## You may sell your investment on most working days.
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## Recommendation: this Fund may not be appropriate for investors who plan to withdraw their money within a period of 5 years.

Translation (ENFR, 2022-03-10):
# Objectifs et politique d'investissement
### Objectif d’investissement :

### Le Fonds vise à suivre autant que possible les rendements de l’Indice MSCI World Index (l’Indice). Le Fonds investira dans ou s’exposera à des actions de sociétés qui composent l’Indice.

### Politique d’investissement :

### L’Indice est composé de sociétés de moyenne et grande capitalisation de pays développés, telles que déterminées par le Fournisseur d’Indice.
Le Fonds est géré de manière passive et utilise une technique d’investissement appelée optimisation. Cette technique cherche à réduire la différence de rendement entre le Fonds et l’Indice en prenant en compte l’écart de suivi (le risque que le rendement du Fonds diffère de celui de l’Indice) et les coûts de transaction lors de la constitution d’un portefeuille.
Le Fonds n’investira pas nécessairement dans chaque société composant l’Indice, ni proportionnellement à leur pondération dans l’Indice. Il peut aussi investir dans des sociétés non comprises dans l’Indice mais qui devraient fournir des caractéristiques de performance et de risque similaires à certains composants de l’Indice. Si le Fonds ne peut pas investir directement dans les sociétés, il peut obtenir une exposition via d’autres investissements tels que des certificats de dépôt ou instruments dérivés.