Trojan Ethical Fund (Ireland) - X USD ACC

The fund seeks to achieve growth in capital, ahead of inflation (UK Retail Prices Index), over the longer term (5 to 7 years). The fund has flexibility to invest in a wide range of instruments including government and public securities, shares and securities which represent rights in such shares, fixed interest and/or debt securities, money market instruments, investment funds, cash, cash equivalents and indices. Exposure to these asset classes can also be achieved by investing in other funds. The fund may also seek indirect exposure to precious metals. The fund will invest in line with the requirements of the Investment Manager's Climate Change Mitigation Policy (as further described in the 'Investment Strategy' section of the supplement for the fund). Investments will not be made in companies which derive material value from revenues from fossil fuels, pornography, tobacco, alcohol, gambling, high interest rate lending and certain types of armaments. Investment in government debt is limited to that issued by Canada, France, Germany, Italy, Japan, the UK and the US (commonly known as the 'G7'). Not all asset types are subject to ethical exclusion criteria. A document setting out the ethical exclusion criteria is available at www taml co.uk. You should read this document before investing. Investment decisions by the investment manager will be based on various factors including analysis of economic conditions, interest rates and inflation. The investment manager will seek to buy investments which it considers have the ability to grow in value over time.