The investment objective of the sub-fund is to replicate the performance of the ECPI Circular Economy Leaders Equity (NR) Index (Bloomberg: GALPHCEN Index) (the “Index”), including fluctuations, and to maintain the Tracking Error between the sub-fund and the Index below 1%. The Index General Description The Index is an equally weighted index designed to offer investors exposure to companies in the Global developed market. The objective of the Index is to provide investors with exposure to companies that are the ones best placed to grasp the benefits deriving from the adoption of circular economy models and companies that have been able to translate circular economy principles into business practices. ECPI maintains a research universe of investable instruments built using a proprietary ESG screening methodology.