Description

The Invesco STOXX Europe 600 Optimised Automobiles & Parts UCITS ETF Acc seeks to provide the net total return performance of the STOXX Europe 600 Optimised Automobiles & Parts Index (the “Reference Index”), less the impact of fees.The Reference Index is designed to offer investors an ideal tool to track companies of the STOXX Europe 600 Automobiles & Parts Index with a higher degree of liquidity for long and short investments. It covers companies across 17 European countries: Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden, Switzerland and the United Kingdom.The fund aims to achieve its objective by holding a basket of equities, which typically delivers most of the fund’s return but ordinarily would not be the same as those in the Reference Index. The fund will also use unfunded swaps, which are contracts whereby one or more approved counterparties agrees to exchange with the fund any difference between the returns of the Reference Index and the basket of equities held. The aim is to achieve a closer and more consistent performance relative to the Reference Index than would generally be possible through physical replication alone.This ETF is passively managed. An investment in this fund is an acquisition of units in a passively managed, index tracking fund rather than in the underlying assets owned by the fund.