The Fund invests in high quality large and mid-capitalisation stocks with high and persistent dividend income in developed countries in Europe. It seeks to track the performance of the LibertyQ European Dividend Index-NR (the “Underlying Index”) as closely as possible. The Fund aims to replicate the Underlying Index by holding all of its securities in a similar proportion to their weighting in the Underlying Index. The holdings of the Underlying Index are selected from the MSCI Europe IMI ex REITS Index-NR (the “Investment Universe”), using a transparent selection process which applies a dividend persistence and yield screen followed by a quality screen.