The Sub-Fund is an index-tracking UCITS passively managed. The investment objective of the Receiving Sub-Fund is to track the upward and the downward evolution of the STOXX Europe 600 Utilities Index (the “Index”), denominated in Euros, and representative of the performance of European companies in the utilities industry, while minimizing the volatility of the difference between the return of the Receiving Sub-Fund and the return of the Index (the “Tracking Error”). The anticipated level of the Tracking Error, under normal market conditions is expected to be up to 1%.