The fund provides diversified exposure to commodity sectors such as Energy, Agriculture, Industrial Metal, Precious Metals and Live Cattle. The fund uses active management with deviation limits maintained relative to the benchmark. Measured over a period of several years we aim to beat the performance of the benchmark Bloomberg Commodity (TR) (hedged to EUR). The benchmark is a broad representation of our investment universe. The fund also include investments into securities that are not part of the benchmark universe. Investors should be aware that the index’s investment universe is concentrated and, as a result, the fund is concentrated. This will typically result in a comparable composition and return profile of the fund and its benchmark. The fund''s positions to the individual commodities are approximately equal to those of the benchmark. However the end date of the commodity contracts may deviate from the contract dates of which the benchmark is composed. The reason for this is that the fund aims to minimize the "roll" loss, or maximize the "roll" return, with "roll" referring to renewing expiring commodity contracts. It also aims to benefit from holding earlier the futures contracts that passive products and traditional indices will buy during the next period as well as from the relative price differences of certain commodities that are part of the same value chain. The positions are determined by a mathematical model built along two factors Carry and Flow. There are strict risk controls in place to limit the risk of the fund. The fund mainly invests in short term US treasuries and instruments that generate the performance of the commodities. The sub-fund’s base currency is US dollar (USD) and the sub-fund can be exposed to non-US dollar currencies. By hedging this share class we aim to exchange the base currency of the sub-fund (USD) with the currency of this share class – Euro (EUR). The exposure towards non-EUR currencies in the sub-fund remains in this share class. A currency hedge consists of taking an offsetting position in another currency. You can sell your participation in this fund on each (working) day on which the value of the units is calculated, which for this fund occurs daily. The fund does not aim to provide you with a dividend. It will reinvest all earnings.

These financial instruments are impacted by various factors. These include, but are not limited to, the development of the financial market, the economic development of issuers of these financial instruments who are themselves affected by the general world economic situation and the economic and political conditions in each country. The Sub-Fund’s liquidity risk is set to medium. Liquidity risks may arise when a specific underlying investment is difficult to sell. Investments in a specific geographic area are more concentrated than investments in various geographic areas. No guarantee is provided as to the recovery of the initial investment. Hedging share classes, a method to try to manage specific currency risk, may lead to additional credit risk and to residual market risk depending on the effectiveness of the hedging performed.