GS Multi-M.Gl.Eq.Pf.IP USD/  LU1963342032  /

The Portfolio seeks to provide capital growth over the longer term. One or more external investment managers selected by the Investment Adviser will be appointed to manage the day to day investment of the Portfolio within the overall investment policy and guidelines of the Portfolio. The Portfolio will mostly hold shares or similar instruments relating to companies anywhere in the world. The Portfolio will not invest more than 33% of its assets in bonds issued by corporate or government entities, convertibles (securities that can be converted into other types of securities), money market instruments and non-share related instruments. The Portfolio may use derivative instruments for efficient portfolio management purposes, to help manage risks and for investment purposes in order to seek to increase return. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of other underlying assets. Shares in the Portfolio may be redeemed daily (on each business day) on demand. The Portfolio is actively managed and references the MSCI World Index (Net TR) (USD) (the "Benchmark") for the purposes of setting discretionary internal risk thresholds which may reference deviations from the Benchmark.

The Portfolio seeks to provide capital growth over the longer term.