Berenberg European Micro Cap Fund M

The Fund’s investment objective is to achieve the highest possible increase in value. The benchmark index used for the fund is: 100% MSCI Europe Micro Cap Daily 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.