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Stocks and Shares ISAObjective
The Fund 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 MSCI Europe ex UK 100% Hedged to GBP Index, the Fund’s benchmark index (Index). The Index measures the performance of the MSCI Europe ex-UK Index which measures the performance of large and mid capitalisation companies across developed market countries in Europe, excluding the United Kingdom, which comply with MSCI’s size, liquidity and free float criteria based on a free float market capitalisation weighted basis. Free float means that only shares available to international investors rather than all of a company’s issued shares are used in calculating the Index. Securities that are liquid means that they can be easily bought or sold in the market in normal market conditions. The Index also uses one month foreign exchange (FX) forward contracts to hedge each non-Sterling currency in the Index back to Sterling. Hedging reduces the effect of fluctuations in the exchange rates between the currencies of the equity securities that make up the Index and Sterling, the base currency of the Fund. The Fund aims to invest, so far as possible and practicable, in the equity securities (e.g. shares) that make up the MSCI Europe ex-UK Index as well as FX forward contracts that, so far as possible and practicable, track the hedging methodology of the Index. The FX forward contracts hedge each foreign currency in the Index back to the Fund’s base currency. This is based on the MSCI Hedged Indices methodology. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs (including FX forward contracts) may be used for direct investment purposes. Apart from foreign currency hedging purposes,
- Leverage -
- Currency hedgingNo