The aim of the Fund is to provide a return on investment (generated through an increase in the value of the assets held by the Fund and/or income received from those assets) by tracking closely the performance of the iBoxx MSCI ESG GBP Non-Gilts Index (the “Index”). The pre-defined ESG screens set by the index provider seek to limit and/or exclude from the Index corporate issuers within the iBoxx GBP Non-Gilts Index which are determined by the index provider (often by reference to specific revenue thresholds or to any connection to an activity regardless of any revenue received) as having exposure to, or other ties with, certain activities and involvement in relevant ESG controversies. The Fund is passively managed and the investment manager has limited discretion to select the Fund’s investments and in doing so may take into consideration the Index. The Fund invests in fixed income securities (such as bonds) that make up the Index and, at the time of purchase, comply with the credit rating requirements of the Index. The Fund may at times invest indirectly via other fixed income-related investments (i.e. other investments whose value is related to debt) giving exposure to such fixed income securities, or in other fixed income securities not in the Index.