HUMAN CAPITAL EUROPE

The investment objective of the Fund is to outperform the Stoxx Europe 600 EUR Index NTR (SXXR) (the "Benchmark Index") over a long-term horizon by exploiting investment opportunities on the equity markets, while providing a fixed stream of distributions. The Benchmark Index is a broad liquid index with a fixed number of 600 stocks, representing large, mid and small capitalisation companies across 17 countries of the European region.The Fund is actively managed. Its equity exposure may significantly deviate from the components of the Index. The fund is article 8 of SFDR. The Portfolio will be selected by a proprietary methodology of the Management Company, relying on both financial and best-in-universe extra-financial analyses ranking the instruments of the Investment Universe based on a combination of ESG (Environmental, Social, Governance) criteria, as well as a commitment to contribute to Social UN Sustainable Development Goals (described in the prospectus). Equities of the Investment Universe will be ranked using MSCI ESG rating methodology which identifies material risks and opportunities for each industry through a quantitative model that looks at ranges and average values for each industry for externalized impacts such as carbon intensity, water intensity, and injury rates. Equities with the highest ESG rating will be retained by excluding from the Investment Universe at least 20% of the equities with the lowest ESG rating. The Portfolio will be rebalanced monthly in accordance with the methodology. However, the Management Company may decide to rebalance the Portfolio at any time at its discretion (the "Rebalancing Date"). The exposure of the Fund to European equity markets through the Portfolio may vary between 0% and 150% on a weekly basis at least. As a result, the exposure may drift between such adjustments. The Fund distributes a fixed dividend of EUR 5 per fund unit per year, divided into 12 identical monthly payments.