Anlageschwerpunkt NEF Ethical Global Equity - R EUR ACC

The objective of the Sub-Fund is to seek an attractive long term rate of return, measured in Euros, through investments primarily in equity securities of companies listed on the world's stock exchanges. The Sub-Fund is actively managed in reference to the benchmark MSCI World Net Total Return Index (EUR unhedged) (the 'Benchmark'). The Benchmark is not replicated, it merely serves as a starting point for investment decisions. The investment manager seeks to outperform the Benchmark. The composition of the Sub-Fund and its performance may positively or negatively deviate significantly from the Benchmark. The Sub-Fund mainly invests in stocks listed on worldwide stock exchanges. Investments will be sought primarily in equity securities of companies domiciled in developed countries, but limited investment may be made in the securities of companies in developing countries as well. Assets of the portfolio may be invested in equity related securities, such as convertible bonds.