Global Government Bond UCITS ETF

The Fund employs a passive management – or indexing – investment approach, through physical acquisition of securities, and seeks to track the performance of the Bloomberg Global Treasury Developed Countries Float Adjusted Index (the “Index”). The Fund will invest in a portfolio of local currency government bonds (including callable bonds) from developed countries (as determined by the index provider) that insofar as possible and practicable consists of a representative sample of the component securities of the Index. The index is designed to reflect the universe of float adjusted fixed-rate, investment-grade, local currency government debt of developed (as determined by the index provider) countries. The bonds must have a maturity of at least one year. To a lesser extent the Fund may invest in similar types of bonds outside the Index, but whose risk and return characteristics closely resemble the risk and return characteristics of constituents of the Index or of the Index as a whole. The Fund invests in securities which are denominated in currencies other than the base currency. Movements in currency exchange rates can affect the return of investments. Currency hedging techniques are used to minimise the risks associated with movements in currency exchange rates, where the Fund invests in securities denominated in currencies other than the listing currency, but these risks cannot be eliminated entirely. As this document relates to a share class where such techniques are used, the performance (see "Performance") of this share class is shown against the currency hedged version of the Index. The Fund attempts to remain fully invested except in extraordinary market, political or similar conditions where the Fund may temporarily depart from this investment policy to avoid losses. While the Fund is expected to track the Index as closely as possible, it typically will not match the performance of the targeted Index exactly, due to various factors such as expenses