Berenberg European Focus Fund M

The Fund’s investment objective is to achieve as long-term a value growth as possible while taking socially and environmentally responsible investment criteria into account. The benchmark index used for the fund is: 100% MSCI Europe Net TR EUR. The Management Company determines the benchmark index for the Fund and may change this as necessary. However, the Fund does not aim to replicate the performance of the benchmark index. The Portfolio Manager may invest at their own discretion in securities or industries not included in the benchmark in order to capitalise on specific investment opportunities. The investment strategy limits the extent to which portfolio holdings may differ from the benchmark index. The difference may be significant.