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Stocks and Shares ISAObjective
The Share Class is a share class of a Fund, which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the Bloomberg Barclays MSCI Euro Corporate 0-3 Sustainable SRI Index, the Fund's benchmark index (Index). In the respect of the Fund and Index, SRI means socially responsible investing. The Share Class, via the Fund, aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index. The Index measures the performance of fixed-rate, Euro denominated corporate bonds that have a remaining time to maturity of no longer than three years and aminimum amount outstanding of €300 million. The bonds must be rated investment grade, taking the middle rating given by Fitch, Moody’s and Standard & Poor’sRating Services. The Index includes only bonds issued by companies that meet the index provider’s environmental, social and governance (“ESG”) ratings, based on a series of andexclusionary and ratings based criteria. The investable universe of the Index is determined by three ESG screens. The Index excludes companies that are identified by the index provider as manufacturers or producers of alcohol, tobacco, gambling, adult entertainment, genetically modified organisms, nuclear power, civilian firearms and military weapons, or where their involvement in those activities exceed the thresholds set by the index provider. Companies are also given a MSCI ESG intangible value assessment (IVA) rating by the index provider, based on their ability to manage their ESG risks and opportunities, which determines their eligibility for inclusion (rating must be BBB or higher to be eligible for inclusion). In addition, companies which are identified as being involved in major controversies that have an ESG impact on their operations and/or products and services, with a MSCI ESG Controversies score less than 1, are also excluded. The Index is market capitalisation weighted. Market capitalisation is the market value of the outstanding bond issuance. If the credit, or ESG ratings of the FI securities are downgraded, the Fund may continue to hold them until they cease to form part of the Index and it is practicable to sell them. The Fund uses optimising techniques to achieve a similar return to its benchmark index. These may include the strategic selection of certain securities that make up the benchmark index and also the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on, one or more underlying assets). FDIs may be used for direct investment purposes.
- Leverage -
- Currency hedgingNo