Description

This ETF endeavors to replicate the net total return performance of the STOXX Europe 600 Optimised Insurance Index (referred to as the "Reference Index"), after accounting for associated fees. The Reference Index is crafted to offer a highly liquid tracking instrument for investors interested in companies within the STOXX Europe 600 Insurance Index, facilitating both long and short investment strategies. It encompasses businesses from seventeen distinct 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 pursues its goal by maintaining a diversified portfolio of equities, which typically contributes the majority of its returns but generally does not mirror the precise constituents of the Reference Index. To bridge this gap, the fund also utilizes unfunded swap contracts. Through these agreements, one or more approved financial counterparties commit to exchanging with the fund any discrepancy between the returns generated by the Reference Index and the fund's underlying equity holdings. This approach aims to achieve a more accurate and steady correlation with the Reference Index's performance than could typically be attained through solely physical replication. This ETF operates under a passive management strategy. An investment in this fund represents the acquisition of units in a passively managed, index-tracking product, rather than direct ownership of the underlying assets held within the fund.