The Fund is a high conviction, diversified, global shares portfolio with low portfolio turnover and a strong emphasis on driving impact through engagement. It aims to generate long-term outperformance by investing in mission-driven companies that create value for investors by providing solutions for the growing unmet sustainability needs of society and the environment, using the United Nations Sustainable Development Goals (SDGs) as an investment lens.

The Regnan Global Equity Impact Solutions Fund is anactively managed global equities portfolio that aims toprovide a positive impact by investing in companies thathave the potential to address the world’s major social andenvironmental challenges, alongside a financial return.

We strive to outperform the broad global equity market by: 

1. Investing in companies that provide solutions that have a positive impact on people and the planet
2. Identifying early growth opportunities that meet a structural, underserved need
3. Taking advantage of market inefficiencies in pricing in long term systems change

The Regnan SDG TaxonomyWe have developed a taxonomy based on the 17 UN Sustainable Development Goals (SDGs) and the 169 targets that underlie them. The Regnan SDG Taxonomy takes the most pressing global environmental and social problems and links them to the solutions sold by companies today. We believe that, by analysing these solutions, our taxonomy allows us to identify companies with a strong chance of producing market-beating returns. We use a rigorous approach to testing the potential of each of the solutions to deliver a large-scale impact. We do this by formulating a Theory of Change and looking at the expected total addressable market for each of them.Exclusionary ScreensIn addition to the Fund's focus on positive impact, it applies exclusionary screens to avoid harms (see PDS for full details). The Fund will avoid investing in companies which directly: 

• extract or explore for fossil fuels (specifically, coal, oil and gas); or 
• produce tobacco (including e-cigarettes and inhalers); or
• manufacture controversial weapons (including clustermunitions, landmines, biological or chemical weapons, nuclearweapons, blinding laser weapons, incendiary weapons, and/or non-detectable fragments).

The Fund will also avoid investing in companies which derive 10% or more of their gross revenue directly from: 

• fossil fuel-based power generation, or fossil fuel distribution or refinement (coal, oil and gas)*; 
• the production of alcoholic beverages; 
• manufacture, ownership or operation of gambling facilities, gaming services or other forms of wagering; 
• manufacture of non-controversial weapons or armaments; 
• manufacture or distribution of pornography; and 
• mining of uranium for the purpose ofnuclear power generation.

* Companies with a climate transition plan may be exempted from this exclusion, provided that they have in place a credible Paris Agreement aligned transition plan and produce robust climate-related financial disclosures annually.