# What is this product?
## Type

## This is an open ended UCITS fund.

## Term

## There is no maturity date of the fund.

## Investment objective

## The fund aims to provide capital growth by investing in equities of companies worldwide which benefit from disruption.

## The fund is actively managed and invests at least two-thirds of its assets in equities of companies worldwide.
Disruption typically means innovation (whether due to technology or otherwise) which changes a particular industry by creating new markets, products or service models. Disruption can be observed in many industries such as e-commerce, media & communications and banking & payments. The investment manager believes that companies benefitting from disruptive innovation, either as the disruptor or otherwise, can experience a rapid acceleration in, and durability of, growth. The investment manager seeks to invest in companies benefiting from disruption before this is fully reflected in market expectations.
The fund may also invest up to one-third of its assets directly or indirectly in other securities (including other asset classes), countries, regions, industries or currencies, investment funds, warrants and money market investments, and hold cash (subject to the restrictions provided in the prospectus).

## The fund may use derivatives with the aim of reducing risk or managing the fund more efficiently.

## The fund is valued with reference to the net asset value of the underlying assets.

## Benchmark: The fund does not have a target benchmark. The fund's performance should be compared against the MSCI AC World (Net TR) Index. The comparator benchmark is only included for performance
comparison purposes and does not determine how the investment manager invests the fund's assets. The fund's investment universe is expected to overlap materially with the components of the comparator benchmark. The investment manager invests on a discretionary basis and there are no restrictions on the extent to which the fund's portfolio and performance may deviate from the comparator benchmark. The benchmark(s) does/do not take into account the environmental and social characteristics or sustainable objective (as relevant) of the fund. Please see appendix III of the fund's prospectus for further details.

## Other Information

## The fund maintains a higher overall sustainability score than the MSCI AC World (Net TR) index based on the investment manager's rating criteria.
The fund does not directly invest in certain activities, industries or groups of issuers above the limits listed under “Sustainability Information” on the fund's webpage, accessed via www.schroders.com/en/lu/private-investor/ gfc

## Dealing Frequency: You may redeem your investment upon demand. This fund deals daily.

## Distribution Policy: This share class accumulates income received from the fund's investments, meaning it is kept in the fund and its value is reflected in the price of the share class.

## Depositary: J.P. Morgan SE

## Intended retail investor
The fund is intended for retail investors (i) with basic investment knowledge; (ii) who understand the basics of buying and selling shares in stock market listed companies and the way these shares are valued; (iii) who can accept large short-term losses; and (iv) wanting growth over [the longer term] but with easy access to their cash. This investment should form part of a varied investment portfolio. This product is suitable for general sale to retail and professional investors through all distribution channels with or without professional advice.

Translation (ENES, 2023-01-01):
# ¿Qué es este producto?
## Tipo

## Se trata de un fondo OICVM abierto.

## Plazo

## No hay fecha de vencimiento del fondo.

## Objetivo de inversión

## El objetivo del fondo es ofrecer crecimiento del capital mediante la inversión en valores de renta variable de empresas de todo el mundo que se benefician de las alteraciones.

## El fondo, que se gestiona de forma activa, invierte como mínimo dos terceras partes de sus activos en valores de renta variable de empresas de todo el mundo.
Por lo general, «alteración» hace referencia a una innovación (ya sea debido a la tecnología o a innovación de otro tipo) que cambia un sector particular mediante la creación de nuevos mercados, productos o modelos de servicios. Pueden observarse alteraciones en muchos sectores, como el comercio electrónico, los medios de comunicación y las comunicaciones, y la banca y los pagos. La gestora de inversiones considera que las empresas que se benefician de la innovación desestabilizadora, ya sea como disruptor o de otro modo, pueden experimentar una rápida aceleración y durabilidad del crecimiento. La gestora de inversiones trata de invertir en empresas que se benefician de las alteraciones antes de que estas se reflejen plenamente en las expectativas del mercado.
El fondo también podrá invertir hasta una tercera parte de sus activos, directa o indirectamente, en otros valores (incluidas otras clases de activos), países, regiones, sectores o divisas, fondos de inversión, warrants e inversiones del mercado monetario, y mantener efectivo (con sujeción a las restricciones incluidas en el folleto).
Índice de referencia: El fondo no tiene ningún valor de referencia objetivo. El rendimiento del fondo se compara con el del MSCI AC World (Net TR) Index. El valor de referencia de comparación solo se incluye con fines de comparación de la rentabilidad y no determina la forma en que la gestora de inversiones invierte los activos del fondo. Se espera que el universo de inversión del fondo se correlacione de forma sustancial con los componentes del valor de referencia de comparación. La gestora de