Bloomberg
Index Services
LimitedBenchmark Statement for
Bloomberg Global Equity IndicesBloomberg Index Services Limited

A Bloomberg Professional Services offering

This benchmark statement (this “Statement”) is provided by Bloomberg Index Services Limited (“BISL” and, with its affiliates,“Bloomberg”) as the administrator of the Bloomberg Global Equity Indices (collectively, the “Indices” and each, an “Index”) and isintended to meet the requirements of the European Union’s regulation on indices used as benchmarks in financial instruments andfinancial contracts or to measure the performance of investment funds (Regulation (EU) 2016/1011 of the European Parliament and of
the Council of 8 June 2016, herein the “EU BMR”), including the regulatory technical standards (“RTS”) promulgated thereunder, as
and to the extent the EU BMR and related RTS were “on-shored” in the UK from 1 January 2021 (the “BMR”)

Requirement [Regulatory
Reference](1)

Benchmark Family Information

General disclosure
requirements

The benchmark statement
shall state:

Date of publication:
June 2024(a) the date of
publication of thestatement and, whereapplicable, the date ofits last update;

Date of last update:June 2024(b) where available, theinternational securities
identification number(ISIN) of the benchmark
or benchmarks;
alternatively, for a familyof benchmarks, thestatement may provide
details of where the
ISINs are publicly
accessible free ofcharge;BISL does not assign ISINs to all of the Indices.

(c) whether thebenchmark, or any
benchmark in the familyof benchmarks, isdetermined using
contributions of input
data;

The Indices do not utilize contributions of input data.

(d) whether thebenchmark or any
benchmark in the familyof benchmarks qualifies
as one of the types ofbenchmarks listed
under Title III ofRegulation (EU)2016/1011, including thespecific provision by
virtue of which the

Certain of the Indices may qualify as ‘regulated-data benchmarks’ to the extent the underlying
input data is sourced entirely as specified in point (24) of Article 3(1) of the BMR. However, given
the current status of equivalence decisions for non-EU trading venues and the range of input
data sources for the Indices, not all of the Indices would qualify.

Users should be aware that ISINs may have been obtained on the Indices by third parties and,in doing so, such third parties may have supplied inaccurate or incomplete information withregard to the underlying Index or may have obtained multiple ISINs for the same Index. Users
should contact BISL if they have questions regarding the proper identification of its Indices.
BISL does assign a unique Financial Instrument Global Identifier (“FIGI”) to its Indices. FIGIs may
be found at https://openfigi.com/ by searching for the relevant Index within the family.

None of the Indices are ‘interest rate benchmarks’ or ‘commodity benchmarks’ as those terms
are defined in the BMR.
In addition, none of the Indices are ‘critical benchmarks’ or ‘significant benchmarks’ as thoseterms are defined in the BMR. All of the Indices would be deemed ‘non-significant’.

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A Bloomberg Professional Services offering

benchmark qualifies asthat type.
[RTS 1(1)](2)

The benchmark statement
shall clearly andunambiguously define themarket or economic reality
measured by the
benchmark and thecircumstances in which suchmeasurement may become
unreliable.
[BMR 27(1)(a)]Market or economic reality measured by the benchmark family:
The Bloomberg Global Equity Indices include investable equity securities from 49 countries
which are considered as developed and emerging markets as per Bloomberg country
classification methodology. The Indices are available in modular forms, with each country
aggregate index targeting 99% of the investable equity securities universe of the country. The
aggregate country indices are available in size segments of large, mid and small. The size
segments are combined across regions to represent the regional indices and their size
segments.
Further information can be found here or by entering INP <GO> on the Bloomberg
Terminal® and selecting “Fact Sheets”.

In defining the market or
economic reality, thebenchmark statement shall
include at least thefollowing information:(a) a general description of
the market or economic
reality.
(b) the geographicalboundaries, if any, of themarket or economic reality;(c) any other informationthat the administrator
reasonably considers to be
relevant or useful to help
users or potential users of
the benchmark tounderstand the relevant
features of the market or
economic reality, including
at least the following
elements insofar as reliabledata on these elements isavailable:(i) information on actualor potential participantsin the market;(ii) an indication of thesize of the market or
economic reality.
[RTS 1(2)]Global Family of Indices3

Bloomberg Index Services Limited(3)

In defining the potential
limitations of thebenchmark and thecircumstances in which themeasurement of the market
or economic reality may
become unreliable, thebenchmark statement shall
include at least:(a) a description of thecircumstances in which theadministrator would lacksufficient input data to
determine the benchmark
in accordance with themethodology;(b) where relevant, adescription of instances
when the accuracy andreliability of themethodology used for
determining the benchmark
can no longer be ensured,
such as when theadministrator deems theliquidity in the underlying
market as insufficient;(c) any other informationthat the administrator
reasonably considers to be
relevant or useful to help
users and potential users tounderstand thecircumstances in which themeasurement of the market
or economic reality may
become unreliable,
including a description ofwhat might constitute an
exceptional market event.
[RTS 1(3)]A Bloomberg Professional Services offering

Benchmark limitations
Though the Indices are designed to be representative of the markets they measure orotherwise align with their stated objective, they may not be representative in every case or
achieve their stated objective in all instances. They are designed and calculated strictly tofollow the rules of the methodology, and any index level or other output is limited in its
usefulness to such design and calculation.
Markets can be volatile, including those market interests which the Indices intend to measureor upon which the Indices are dependent in order to achieve their stated objective. For
example, illiquidity can have an impact on the quality or amount of data available to BISL for
calculation and may cause the Indices to produce unpredictable or unanticipated results.
In addition, market trends and changes to market structure may render the objective of the
Indices unachievable or to become impractical to replicate by investors.
In particular, the Indices measure the 23 global developed equity markets, 26 emerging
markets and regional aggregates. As with all equity investing, the Indices are exposed tomarket risk. The value of equities fluctuate with the changes in economic forecasts, interest rate
policies established by central banks and perceived geopolitical risk. The Indices do not take
into account the cost of replication and as a result a tracking portfolio’s returns will
underperform the Index with all else equal. As the Indices are designed to measure thosemarkets, its Indices could be materially impacted by market movements, thus significantly
impacting the use or usefulness of the index values or levels for some or all users.
In addition, certain Sub-Indices may be designed to measure smaller subsets of the Indicessuch as specific styles, size, and sector.
Some of these Sub-Indices have very few qualifying constituents and may have none for aperiod of time. During such period, the Sub-Index will continue to be published at its last value,
effectively reporting a 0% return, until new constituents qualify. If no constituents are expected
to qualify (due to changes in market structure and other factors), the Sub-Index may bediscontinued. In such an event, this discontinuation will be announced to index users.
As more fully set forth in the methodology, which includes certain exceptions, there arevarious screening criteria to maintain minimal liquidity requirements, including:
Minimum Trading Volume
To ensure replicability, index members need to have sufficient liquidity to be eligible.
New Index Members Minimum Annualized Trading Volume Ratio Requirements
3−𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷 𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉 × 250
𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼 𝑆𝑆ℎ𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎> 25% and12−𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷 𝑉𝑉𝑉𝑉𝑉𝑉𝑢𝑢𝑢𝑢𝑢𝑢 × 250
𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼 𝑆𝑆ℎ𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎> 25%1

Existing Index Members Minimum Annualized Trading Volume Ratio Requirements
3−𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷 𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉 × 250> 6.25% and𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼 𝑆𝑆ℎ𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎
12−𝑚𝑚𝑚𝑚𝑚𝑚𝑚𝑚ℎ 𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴𝐴 𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷𝐷 𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉𝑉 × 250
𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼𝐼 𝑆𝑆ℎ𝑎𝑎𝑎𝑎𝑎𝑎𝑎𝑎> 12.5%3

1 If a new index member has traded less than 12 months, liquidity is only tested using the 3-month average daily volume at 25%

3

If an existing index member has traded less than 12 months, liquidity is only tested using the 3-month average daily volume at 12.5%

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Bloomberg Index Services Limited

A Bloomberg Professional Services offering

Seasoning of Securities
To ensure a security has sufficient trading history, newly listed securities must have
traded for at least 3 months before the Selection Date to be considered for inclusion.
However, large companies with a first trading day following the Selection Date, that do
not meet the requirements for fast-track addition 2, are considered eligible for additionat the next index Reconstitution even if they have less than 3 months of trading history.
To qualify for this exception, a newly trading security must have a full market
capitalization greater than its country’s 70th percentile of cumulative float market
capitalization (i.e. corresponding to the Country Large cap segment) based on the
Selection Date of the last semi-annual Reconstitution.
Market Price Cap
Securities with a closing market price equal to or greater than US$20,000 on a
Selection Date are not eligible for inclusion in the Bloomberg Global Equity Indices.
Note that existing Index Members are not removed, if their closing market price isequal or greater than US$20,000 on a Selection Date.
Foreign Investment Limits (FIL)
China A companies’ free float percentage are capped at 28% in the Global Equity
Indices.
Companies that breach 28% foreign investment limit are removed at the last trading
price from the Indices with a 2-business day notice.
In some countries, companies can be subject to a FIL depending on theirindustry. When publicly available, BISL caps the free float percentage
according to the industry’s FIL.
Minimum Float Market Capitalization
To qualify for inclusion, securities must have a free float adjusted market capitalizationof at least US$ 100 million when classified in Developed Markets and US$ 50 million
when classified in Emerging Markets.
Note that securities part of Shanghai-Hong Kong and Shenzhen-Hong Kong Stock
Connect Program require at least US$ 2 billion company full market capitalization to beeligible for Index Inclusion.
A security’s free float adjusted market capitalization can be found on <ticker> DES<GO> page on the Bloomberg Terminal.
Minimum float market cap cut-offs are reviewed semi-annually during the March and
September Reconstitutions.

Market Disruption Events
See the Market Disruption Events section of the BISL Benchmark Procedures Handbook.

2 Refer to section 6.1 of Global Equity Indices Corporate Action Methodology

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The benchmark statement
shall lay down technicalspecifications that clearly
and unambiguously identify
the elements of thecalculation of thebenchmark in relation towhich discretion may be
exercised, the criteria
applicable to the exercise ofsuch discretion and theposition of the persons thatcan exercise discretion, andhow such discretion may besubsequently evaluated.
[BMR 27(1)(b)]In specifying the controls
and rules that govern any
exercise of judgement or
discretion by theadministrator or any
contributors in calculating
the benchmark or
benchmarks, the benchmark
statement shall include an
outline of each step of theprocess for any ex post
evaluation of the use of
discretion, together with aclear indication of theposition of any person(s)responsible for carrying out
the evaluations.
[RTS 1(4)](5)

A benchmark statement
shall contain at least therationale for adopting thebenchmark methodology
and procedures for thereview and approval of themethodology.

A Bloomberg Professional Services offering

The Indices are rules-based (methodology available here), and their construction is designed
to consistently produce values without the exercise of expert judgment or discretion under the
standard methodology, in day-to-day index calculation. Nevertheless, BISL product owners
may use expert judgment or discretion in certain limited circumstances, with regards to thefollowing:

Extraordinary circumstances during a market emergency
Interruptions, issues, and closures of data including input or non-input (e.g., Volume)
data

Discretion refers to the right of BISL to make a determination in calculating a Benchmark withrespect to its methodology. Expert judgement refers to the exercise of discretion with respect
to the use of Input Data. Instances of discretion or expert judgement may include BISL making
a decision to modify, derive or substitute input or non-input (e.g. Volume) data points
according to what it considers suitable in a particular situation, in order to maintain Index
constituents as set out in the methodology and ensure the index accurately represents theobjective of the index as best as possible.
Discretion may be applied to (but not limited to) areas of index construction and may include
actions such as:•
Delaying or estimating the value of input or non-input data•
Adjusting the benchmark methodology•
Excluding or amending a constituent, input or non-input data
When expert judgment or discretion is required, BISL undertakes to be consistent in its
application. BISL also maintains and enforces a conflicts of interest framework to prevent
conflicts of interest from inappropriately influencing index construction, production, anddistribution, including the use of expert judgment or discretion.
In certain circumstances exercises of expert judgment or discretion are reviewed by senior
members of BISL management and Bloomberg Compliance teams, and are reported to the
Product, Risk & Oversight Committee (PROC), BISL’s governance committee, which operates
under the supervision of BISL’s oversight function, the Benchmark Oversight Committee (BOC).
See the section titled “Expert Judgment and Discretion” in the BISL Benchmark Procedures
Handbook.

The methodology approach incorporates a ruled-based calculation that does not require theexercise of discretion in its daily calculation process. Additionally, the methodology is subject
to strict input data eligibility requirements to ensure its replicability and resilience.
For further detail on the procedures for the review and approval of methodologies, theprocedures for public consultation on materials changes and the process for cessation, see theBenchmark and Methodology Launch & Changes and Cessation Policy sections of the BISL
Benchmark Procedures Handbook.

[BMR27(2)(b)]In specifying the procedures
for review of themethodology, thebenchmark statement shallat least outline theprocedures for public
consultation on any material

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A Bloomberg Professional Services offeringchanges to themethodology.
[RTS 1(5)]An administrator shall
publish, together with thebenchmark statement
referred to in Article 27, a
procedure concerning theactions to be taken by theadministrator in the eventof changes to or the
cessation of a benchmark
which may be used in theUnion in accordance with
Article 29(1). The procedure
may be drafted, whereapplicable, for families ofbenchmarks and shall be
updated and publishedwhenever a materialchange occurs.
[BMR28(1)](6)

The benchmark statement
shall provide notice of thepossibility that factors,
including external factors
beyond the control of theadministrator, may
necessitate changes to, or
the cessation of thebenchmark.

Users should be aware that factors, including external factors beyond the control of BISL, may
necessitate changes to, or the cessation of the Indices or components thereof. For example,
markets measured by the Indices may undergo structural changes which may affect the liquidityof underlying constituents of the Indices. In addition, regulatory changes can adversely impact
the effectiveness of methodology design.

[BMR 27(1)(c)](7)

The benchmark statement
shall advise users thatchanges to, or the cessationof, the benchmark may havean impact upon the financial
contracts and financial
instruments that reference
the benchmark or themeasurement of theperformance of investment
funds.

If financial product issuers or investment managers choose to use one of the Indices as the basisof an index-linked financial product or an investment fund, they should consider the possibility
that factors, including external factors, may necessitate changes to, or the cessation of the
Indices or components thereof, including the potential need to terminate or modify the termsof a financial product resulting from the termination of the calculation of one or more of the
Indices.

[BMR 27(1)(d)]Global Family of Indices7

Bloomberg Index Services Limited(8)

A benchmark statement
shall contain at least thedefinitions for all key terms
relating to the benchmark.

A Bloomberg Professional Services offering

All key terms and other relevant information are set forth in the methodology for the Indicesavailable here.

[BMR 27(2)(a)](9)

The administrator shallreview and, where
necessary, update thebenchmark statement foreach benchmark or family ofbenchmarks in the event of
any changes to theinformation to be provided
under this Article and at
least every two years.

BISL shall review this Statement on a periodic basis, at least once every two years. BISL will also
review and, if determined necessary, update this Statement in the event of any material changes
to the information provided herein, and whenever the information contained herein ceases tobe correct or sufficiently precise including whenever there is a change in the type of thebenchmark or a material change in the methodology.

[BMR 27(1)]In addition to the cases
referred to in the third
subparagraph of Article
27(1) of Regulation (EU)2016/1011, an update of thebenchmark statement shallbe required whenever the
information contained in
the statement ceases to becorrect or sufficiently
precise, and including inany event in the following
cases:(a) whenever there is achange in the type of thebenchmark;(b) whenever there is amaterial change in themethodology used for
determining the benchmark
or, if the benchmark
statement is for a family ofbenchmarks, in themethodology used for
determining any
benchmark within thefamily of benchmarks.

[RTS 6]

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A benchmark statement
shall contain at least thecriteria and procedures
used to determine thebenchmark, including adescription of the input
data, the priority given todifferent types of input data,
the minimum data needed
to determine a benchmark,the use of any models or
methods of extrapolation
and any procedure forrebalancing the constituentsof a benchmark's index.
[BMR 27(2)(c)]A Bloomberg Professional Services offering

The Indices are constructed in a 3-step process: (1) the eligible universe is defined; (2) liquidity
screens are applied; and (3) segmentation is conducted on the selection date. The Index isrebalanced following the selection date in March and September. Additionally, Index
constituents’ weights will be updated in June and December.
Constituent Selection
As described under “Market or economic reality measured by the benchmark family” in row (2)above, a number of criteria and characteristics are utilized to determine the index eligibility ofparticular securities among and across the various Indices.
Rebalancing
To ensure that the Index accurately reflects the aggregate performance of its constituent
members, the Index is rebalanced periodically and maintained on a daily basis for corporate
actions, corporate events, any restatements, data integrity and changes to the methodology.
Securities are selected in March and September with supplemental share updates in June andDecember (free-float shares may be adjusted up to the 3rd Friday of the month).
Rebalancing takes place on the close of the Friday 3 weeks following the Security Selection or
Share Update date. The rebalance follows the exchange calendar for NYSE trading days.
Should a rebalance fall on an exchange holiday it will roll to the next good exchange tradingday. The rebalance is then effective on the following index business day, as further describedin the methodology.
Input Data
The Index securities are priced by applying a waterfall based on availability, prioritizing theofficial closing price provided by the respective exchange. The result is the price used for
calculation of the Index (Index Price).
For greater detail regarding the criteria and procedures used to determine the Indices, pleaserefer to the publicly-available methodology for the Indices available here.

(11)

A benchmark statement
shall contain at least thecontrols and rules thatgovern any exercise ofjudgement or discretion by
the administrator or any
contributors, to ensure
consistency in the use ofsuch judgement or
discretion.

See row (4) above.

[BMR27(2)(d)]For the purpose ofproviding information on
the controls and rules thatgovern any exercise of
judgment or discretion in
the calculation of thebenchmark or of the familyof benchmarks, thebenchmark statement shallat least:

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A Bloomberg Professional Services offering(a) indicate the position ofeach function or body who
may exercise discretion;(b) outline each step of the
ex-post evaluation process
for the use of discretion.
[RTS 27(1)(4)](12)

A benchmark statement
shall contain at least theprocedures which govern
the determination of thebenchmark in periods ofstress or periods wheretransaction data sources
may be insufficient,inaccurate or unreliable andthe potential limitations of
the benchmark in such
periods.

See “Benchmark Limitations” in row (3) above.

[BMR 27(2)(e)](13)

A benchmark statement
shall contain at least theprocedures for dealing witherrors in input data or in thedetermination of thebenchmark, including whena re-determination of thebenchmark is required.

Bloomberg strives to provide accurate calculation of its indices. However, to the extent amaterial error in Index Values is uncovered following publication and dissemination, a public
notification will be made alerting of such error and what course of action will be undertaken
and when. In such situations, it can be decided to either
1)
2)
3)

Do not correct until the next index review;
Apply a correction going forward with advance notification; orRestate the historical indices[BMR 27(2)(f)]Global Family of Indices10

Bloomberg Index Services Limited

A Bloomberg Professional Services offering

Bloomberg reviews discrepancies and restates indices if the impact is in excess of 3 bps3 andoccurred in the last 2 business days.

In some cases, Bloomberg may apply discretion and determine that a restatement is required.
The decision will take into consideration the following factors (not in order of importance):
•
•
•
•
•
•
•

The relative importance of the data field impacted by the error;
Consideration of impact to end investor and/or clients’ non-financial objectives;
When the error occurred and when it was discovered;
The number of indices and sub-indices affected;
Whether the impacted indices are linked to tradable products;
The magnitude of the error;
The burden of restatement on client re-processing relative to the impact of the error;and•
The impact of the restatement on analytical tools.
See the Restatement Policy set out in the BISL Benchmark Procedures Handbook.
A decision to restate any Index results in the restatement of all impacted Indices. Real-time
indices are not considered for restatement, all real-time dissemination is considered
indicative. Discrepancies discovered after 12 months will not be corrected.
Bloomberg will follow, but will not commit to, actions in accordance to the following
guidelines.

Index correction guidelines
ActionEvent types

Correction at Next
ReviewGoing Forward Correction

Historical Restatement

Incorrect addition

Spinoff, IPO

Yes, if still warrantedNo

No

Incorrect deletion

M&A, delisting,bankruptcy

Yes, if still warrantedNo

No

Incorrect weight

IPO, spinoff

No

Correction with 2 day notice
if it doesn’t qualify forrestatement

Yes, if qualifies forrestatement

No

Next day correction if it
doesn’t qualify forrestatement

Yes, if qualifies forrestatement

No

Next day correction if it
doesn’t qualify forrestatement

Yes, if qualifies forrestatement

No

Next day delta reinvestment
if it doesn’t qualify forrestatement

Delta reinvestment if
qualifies for restatement

No

Next day negative
reinvestment if it doesn’t
qualify for restatement

Negative reinvestment if
qualifies for restatement

Missed event

No

Next day reinvestment if it
doesn’t qualify forrestatement

Reinvestment if qualifies
for restatement

Missed identifier change

No

Next day change

No

No

Change with 2 day notice

No

Error

Corporate Actions

Addition/
DeletionPrice
Adjustmen
t on exdate

Incorrect terms applied

Cancelled/missed/
postponed

Split, stock dividend,spinoff, special
dividend, rights
issue

Incorrect amount,currency, tax rate

Cash
distributionCancelled/ postponed

Regular cash
dividend

Data Points
Identifier
FOL

Overstated FOL

3 of the respective country Large-Mid-Small Total Return Index

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A benchmark statement
shall contain at least theidentification of potential
limitations of thebenchmark, including its
operation in illiquid orfragmented markets and thepossible concentration of
inputs.

A Bloomberg Professional Services offering

Missed country FOL
restrictions change

Understated FOL

Yes

No

No

Withholding tax rate

Missed country change intax rate applicable toforeign investors

Incorrect tax rateapplied to alreadyreinvested
dividends

No

Negative reinvestment if it
doesn’t qualify forrestatement

Negative reinvestment if
qualifies for restatement

Closing
MarketPrice

Official closing market
price change

Incorrect closing
market price used inindex calculations

No

Next day correction if it
doesn’t qualify forrestatement

Yes, if qualifies forrestatement

IntradayMarketPrice

Revised intraday market
price

Incorrect intraday
market price

No

No

No

FX
rates

Official FX rate

Incorrect FX rateused in index
calculations

No

Next day correction if it
doesn’t qualify forrestatement

Yes, if qualifies forrestatement

See “Benchmark Limitations” in row (3) above.

[BMR 27(2)(g)](15)

Specific disclosure
requirements forregulated data
benchmarks.

Not applicable.

In addition to theinformation to be included
pursuant to Article 1, for aregulated-data benchmark
or, where applicable, familyof regulated-databenchmarks, the benchmark
statement shall state at least
the following in its

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A Bloomberg Professional Services offering

description of the input
data:(a) the sources of the input
data used;(b) for each source, therelevant type , as listed in
Article 3(1)(24) of Regulation(EU) 2016/1011.
[RTS 2](16)

Specific disclosure
requirements for interest
rate benchmarks

Not applicable.

1. In addition to theinformation to be included
pursuant to Article 1, for aninterest rate benchmark or,
where applicable, family ofinterest rate benchmarks,
the benchmark statement
shall include at least thefollowing information:(a) a reference alerting users
to the additional regulatory
regime applicable tointerest rate benchmarks
under Annex I to Regulation(EU) 2016/1011;(b) a description of thearrangements that havebeen put in place to comply
with that Annex.
[RTS 3](17)

Specific disclosure
requirements forcommodity benchmarks

Not applicable.

In addition to theinformation to be included
pursuant to Article 1, for acommodity benchmark or,
where applicable, family ofcommodity benchmarks,
the benchmark statement
shall at least:

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A Bloomberg Professional Services offering(a) indicate whether therequirements of Title II of, orAnnex II to, Regulation (EU)2016/1011 apply to thebenchmark, or family ofbenchmarks as prescribedby Article 19 of that
Regulation;(b) include an explanation
as to why Title II of or, as thecase may be, Annex II tothat Regulation applies;(c) include in the definitionsof key terms a concise
description of the criteriathat define the relevant
underlying physicalcommodity;(d) where applicable,
indicate where theexplanations are publishedthat the administrator isrequired to publish underparagraph 7 of Annex II tothat Regulation.
[RTS 4](18)

Specific disclosure
requirements for criticalbenchmarks

Not applicable.

In addition to theinformation to be included
pursuant to Article 1, for a
critical benchmark, or,where applicable, a familyof benchmarks that
contains at least one criticalbenchmark, the benchmark
statement shall include atleast the following
information:(a) a reference alerting
users to the enhanced
regulatory regime
applicable to criticalbenchmarks under
Regulation (EU) 2016/1011;(b) a statement indicating
how users will be informed

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publication of thebenchmark or of any redetermination of thebenchmark, and indicating
the (expected) duration of
measures.
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BLOOMBERG, BLOOMBERG INDICES and the Bloomberg Global Equity Index (the “Indices”) are trademarks or service marks ofBloomberg Finance L.P. Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited, the administrator of
the Indices (collectively, “Bloomberg”) or Bloomberg's licensors own all proprietary rights in the Indices. Bloomberg does notguarantee the timeliness, accuracy or completeness of any data or information relating to the Indices. Bloomberg makes nowarranty, express or implied, as to the Indices or any data or values relating thereto or results to be obtained therefrom, andexpressly disclaims all warranties of merchantability and fitness for a particular purpose with respect thereto. It is not possible toinvest directly in an Index. Back-tested performance is not actual performance. Past performance is not an indication of future
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agents, suppliers and vendors shall have no liability or responsibility whatsoever for any injury or damages - whether direct,
indirect, consequential, incidental, punitive or otherwise - arising in connection with the Indices or any data or values relating
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Customers should consider obtaining independent advice before making any financial decisions. © 2024 Bloomberg. All rights
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Annex 2 – Climate-Related Disclosures
EXPLANATION OF HOW ESG FACTORS ARE REFLECTED IN THE
BENCHMARK STATEMENTSECTION 1 – CONSIDERATION OF ESG FACTORS
Item 1. Name of the benchmark
administrator.

Bloomberg Index Services Limited

Item 2. Type of benchmark or family ofbenchmarks.

EquityItem 3. Name of the benchmark or familyof benchmarks.

Global Equity Index

Item 4. Are there in the portfolio of thebenchmark administrator any EU
Climate Transition Benchmarks, EU
Paris-aligned Benchmarks, benchmarksthat pursue ESG objectives orbenchmarks that take into account ESG
factors?

Yes

Item 5. Does the benchmark or family ofbenchmarks pursue ESG objectives?

No

Item 6. Where the response to Item 5 is positive, provide below the details (score) in relation to the following
ESG factors: combined ESG factors, environmental, social and governance for each family of benchmarks at an
aggregated level.
The ESG factors shall be disclosed at an aggregated weighted average value at the level of the family ofbenchmarks.
a) List of combined ESG factors:

Details on each ESG factor: N/Ab) List of environmental factors:

Details on each ESG factor: N/Ac) List of social factors:

Details on each ESG factor: N/Ad) List of governance factors:

Details on each ESG factor: N/A

Item 7. Where the response to Item 5 is positive, provide below the details (score) for the benchmark or family ofbenchmarks, in relation the following ESG factors: combined ESG factors, environmental, social and governance,
depending on the relevant underlying asset concerned.
Alternatively, all of this information may be provided in the form of a hyperlink to a website of the benchmark
administrator included in the benchmark statement. The information on the website shall be easily available andaccessible. Benchmark administrators shall ensure that information published on their website remains available
for five years.
The score of the ESG factors shall not be disclosed for each constituent of the benchmark, but shall be disclosed
at an aggregated weighted average value of the benchmark.

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Details on each ESG factor: N/Ab) List of environmental factors:

Details on each ESG factor: N/Ac) List of social factors:

Details on each ESG factor: N/Ad) List of governance factors:

Details on each ESG factor: N/A

Hyperlink to the information on ESG
factors for the benchmark or family ofbenchmarks:

N/A

Item 8. Data and standards used.
a) Description of data sources used toprovide information on the ESG factors inthe benchmark statement.

N/A

Describe how the data used to provide
information on the ESG factors in thebenchmark statement are sourced andwhether, and to what extent, data are
estimated or reported.

b) Reference standards.

N/A

List the supporting standards used forthe reporting under item 6 and/or item 7.

SECTION 2 – ADDITIONAL DISCLOSURE REQUIREMENTS FOR EU CLIMATE
TRANSITION AND EU PARIS-ALIGNED BENCHMARKS
Item 9. Where a benchmark is labelled as ‘EU Climate Transition Benchmark’ or ‘EU Paris-aligned
Benchmark’, benchmark administrators shall also disclose the following information:a)forward-looking year-on-year
decarbonisation trajectory;b) degree to which the IPCC
decarbonisation trajectory (1,5°C
with no or limited overshoot) has
been achieved on average per
year since creation;c)overlap between those benchmarks
and their investable universe, as
defined in Article 1, point (e), of
Commission DelegatedRegulation

N/A

N/A

N/A

(EU) 2020/1818, using the active
share at asset level.

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SECTION 3 – DISCLOSURE OF THE ALIGNMENT WITH THE OBJECTIVES OF THE PARISAGREEMENT
Item 10. By the date of application of this Regulation, for significant equity and bond benchmarks, EU
Climate Transition Benchmarks and EU Paris-aligned Benchmarks, benchmark administrators shall, for eachbenchmark, or where applicable, the family of benchmarks, disclose the following information:
Noa) Does the benchmark align with thetarget of reducing carbon
emissions or the attainment of theobjectives of the Paris Agreement;

Not applicable. The benchmark is not aligned with the target ofb) the temperature scenario, in
reducing carbon emissions or the attainment of the objectives of theaccordance with international
Paris Agreement and therefore no temperature scenario is used.
standards, used for the alignment
with the target of reducing GHG
emissions or the attainment of theobjectives of the Paris Agreement;
Not applicable. There is no temperature scenario provider as noc) the name of the provider of thetemperature scenario is used.
temperature scenario used for thealignment with the target of
reducing GHG emissions or theattainment of the objectives of theParis Agreement;d) the methodology used for themeasurement of the alignment
with the temperature scenario;e)the hyperlink to the website of thetemperature scenario used.

Date on which information has last
been updated and reason for the
update:Not applicable. The benchmark does not use a methodology tomeasure alignment with a temperature scenario as no temperature
scenario is used
Not applicable. There is no temperature scenario used.

28 January 2022. Update of Section 3 disclosures.

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