# Objective and Investment Policy
Seeks to increase the value of your investment over the recommended holding period, through investment in Sustainable Investments pursuant to Article 9 of the Disclosure Regulation. The Sub-Fund invests mainly in a broad range of equities of companies from anywhere in the world that offer products or technologies that promote a cleaner and healthier environment or are environmentally friendly. Examples include companies in the fields of air pollution control, alternative energy, recycling, water treatment and biotechnology. Whilst the investment manager aims to invest in ESG Rated securities not all investments of the Sub-Fund will have an ESG rating and in any event such investments will not be more than 10% of the Sub-Fund.
The Sub-Fund makes use of derivatives to reduce various risks, for efficient portfolio management and as a way to gain exposure (long or short) to various assets, markets or other investment opportunities (including derivatives which focus on equities and foreign exchange).
Benchmark : The Sub-Fund is actively managed. The Sub-Fund may use a benchmark a posteriori as an indicator for assessing the Sub-Fund's performance and, as regards the performance fee benchmark used by relevant share classes, for calculating the performance fees. There are no constraints relative to any such Benchmark restraining portfolio construction. The Sub-Fund has not designated the Benchmark as a reference benchmark for the purpose of the Disclosure Regulation.
Management Process : The Sub-Fund's sustainable investment is focused primarily on investing in securities that contribute to an environmental objective. The investment process identifies the best opportunities both in terms of financial prospects as well as their ESG, in particular environmental, characteristics. The Sub-Fund integrates Sustainability Factors in its investment process as outlined in more detail in section "Sustainable Investment" of the Prospectus. The Sub-Fund allocates investment to securities having environment, social or governance characteristics diversified across ten ESG sectors/themes (sustainable mobility, agriculture/forestry, healthy living, IT-efficiency, water, clean technology, pollution prevention, alternative energy, energy efficiency, ESG commitment) with each investment falling into one of these sectors/themes. This diversification offers investors an exposure across a range E, S, and G characteristics.
Further, the Sub-Fund seeks to achieve an ESG score of its portfolio greater than that of the Benchmark. When analysing ESG score against the Benchmark, the Sub-Fund is compared with the ESG score of its Benchmark after 20% of the lowest ESG rated securities have been excluded from the Benchmark.

Translation (ENES, 2022-10-31):
# Objetivo de inversión
### Trata de aumentar el valor de su inversión durante el período de inversión recomendado.
El Compartimiento invierte principalmente en una amplia gama de valores de renta variable de sociedades en cualquier parte del mundo que ofrezcan productos o tecnologías que promuevan un medio ambiente más limpio y saludable o que sean respetuosos con el medio ambiente. Por ejemplo, sociedades en las áreas de control de la contaminación atmosférica, las energías alternativas, el reciclaje, el tratamiento de aguas y la biotecnología.
El Compartimiento utiliza derivados para reducir diversos riesgos, para una gestión eficaz de la cartera y como forma de aumentar la exposición (larga o corta) a diversos activos, mercados u otras oportunidades de inversión (incluidos los derivados que se centran en los valores de renta variable, y el cambio de divisas).
Índice de referencia: El Compartimento se gestiona de forma activa. El Compartimento puede utilizar a posteriori un índice de referencia como indicador para evaluar el rendimiento del Compartimento y, en lo que atañe al índice de referencia de comisiones de rentabilidad utilizado por las clases de acción correspondientes, para calcular las comisiones de rentabilidad. No hay impedimentos en lo que respecta a los límites de la construcción de cartera de tales Índices de referencia.
Proceso de gestión: El gestor de inversiones utiliza una combinación de datos de mercado global y análisis fundamentales de emisores individuales para identificar valores de renta variable con perspectivas superiores a largo plazo.