State Street Global Screened Managed Volatility Equity Fund P/  LU0450104905  /

The objective of the Fund is to generate lower volatility returns than, and performance comparable to, global equity markets over the long term. The investment policy of the Fund is to generate returns that exhibit lower volatility than the performance of the MSCI World Index (Net) (or any other index determined by the Directors from time to time to track substantially the same market as the Index) while remaining comparable to the Index over the long term. The investment policy will also involve screening out securities based on an assessment of their adherence to ceratin ESG criteria, as further described in the Prospectus. The Investment Manager and/or Sub-Investment Manager, on behalf of the Fund, will invest actively using the Managed Volatility Equity Strategy as further described in the "Investment Strategies" section of the Prospectus and also employs a negative and norms-based ESG screen prior to the construction of the portfolio of the Fund and on an ongoing basis, as further described in the "ESG Screening" subsection of the "ESG Investing" section of the Prospectus. The securities in the portfolio are selected primarily from the securities in the index. Non-index securities may be held in the portfolio. The portfolio incorporates defined risk parameters that include limits on country, sector and security weights on an absolute basis and relative to the respective index.

The objective of the Fund is to generate lower volatility returns than, and performance comparable to, global equity markets over the long term. The investment policy of the Fund is to generate returns that exhibit lower volatility than the performance of the MSCI World Index (Net) (or any other index determined by the Directors from time to time to track substantially the same market as the Index) while remaining comparable to the Index over the long term.