Protea Fund - Nao Responsible Europe - Clean Share Class/  LU1904671473  /

The objective of the Sub-Fund is to achieve capital appreciation over the medium and long-term, offered through an exposure to the equities markets, while giving due consideration to environmental, social and governance ("ESG") criteria. The Sub-Fund will invest at least 75% of its net assets in equities and equity-like securities issued by companies: With a suitable ESG profile, as determined by the Investment Manager; and Which are listed on the stock exchanges of European countries within the Organisation for Economic Cooperation and Development ( "OECD"); Which are domiciled, headquartered or exercise the predominant part of their economic activity within European countries (for the sake of clarity including the United Kingdom and Switzerland) which are part of the OECD, Japan and the United States. Except the geographical restriction and the focus on the ESG criteria, the choice of investments will not be limited by an economic sector or by the currency in which investments will be denominated. However, depending on market conditions, a particular focus can be placed on a single country and/or on a single currency and/or on a single economic sector.

The objective of the Sub-Fund is to achieve capital appreciation over the medium and long-term, offered through an exposure to the equities markets, while giving due consideration to environmental, social and governance ("ESG") criteria.