The Fund seeks to track the return of the FTSE Developed ex Australia Choice Index hedged into New Zealand dollars before taking into account fees, expenses and tax.

The Fund is exposed to all of the securities in the index most of the time, allowing for individual security weightings to vary marginally from the index from time to time. The Fund may be exposed to securities that have been removed from or are expected to be included in the index. The Fund may also invest in forward foreign exchange contracts and futures. 

The FTSE Developed ex-Australia Choice Index hedged into NZD Index comprises securities (shares) listed on the exchanges of the world’s major developed economies. The index excludes companies with significant business activities involving fossil fuels, alcohol, tobacco, gambling, military weapons and civilian firearms, nuclear power, adult entertainment and a conduct related screen based on severe controversies.  Details of the benchmark methodology can be accessed by visiting www.ftse.com/products/indices/global-choice.Exclusion notes:Nuclear Power:- Companies that are involved in the production of nuclear power.  This includes companies generating power from a process of sustained nuclear fission or fusion within a controlled environment, or that are providing goods, products & services including components, specialist materials, bespoke manufacturing and maintenance processes, design and operational support capabilities that enable the generation of nuclear power;- Companies that are involved in uranium mining.  This includes companies that provide goods, products & services derived from the ownership of uranium and uranium extraction rights, or that provide products/services for the processing and management of uranium and uranium ore based raw materials.Fossil Fuels:- Companies that own proved or probable reserves in coal, oil or gas.

- Any company owning oil or gas reserves, and any company with primary business activity in:

• the exploration for and drilling, production, refining and supply of oil and gas products (as defined by the ICB subsector 0533 Exploration & Production;
• the supply of equipment and services to oil fields and offshore platforms, such as drilling, exploration, seismic-information services and platform construction (ICB subsector 0573 Oil Equipment & Services);
• the operations of pipelines carrying oil, gas or other forms of fuel (ICB subsector 0577 Pipelines; note that this excludes pipeline operators that derive the majority of their revenues from direct sales to end users);
• integrated oil and gas companies, providing a combination of the services listed above, including refining and marketing of oil and gas products (ICB subsector 0537 Integrated Oil & Gas);
• the exploration for or mining of coal (as defined by the ICB subsector 1771 Coal).

Adult Entertainment:- Companies that produce adult entertainment.  This includes movies, print publications, online content, live entertainmentAlcohol:- Companies that produce alcoholic beverages.  This includes all companies that are classified in the Industry Classification Benchmark (ICB) Subsectors Brewers (3533) and Distillers & Vintners (3535); and companies that are not classified in ICB Subsectors Brewers (3533) and Distillers & Vintners (3535), but that are identified as having activity in these Subsectors.Gambling:- Companies that provide gambling services.  This includes all companies that are classified in the Industry Classification Benchmark (ICB) Subsector Gambling (5752); and companies that are not classified in ICB Subsector Gambling (5752), but that are identified as having activity in this Subsector.Tobacco:- Companies that produce tobacco products.  This includes all companies that are classified in the Industry Classification Benchmark (ICB) Subsectors Tobacco (3785); and companies that are not classified in ICB Subsector Tobacco (3785), but that are identified as having activity in this Subsector.Military Weapons:- Companies that produce chemical or biological weapons or that produce specific or critical parts or services for chemical or biological weapons;- Companies that produce cluster munitions or that produce specific or critical parts or services for cluster munitions;- Companies that produce anti-personnel mines or that produce specific or critical parts or services for anti-personnel mines;- Companies that produce nuclear weapons systems or that produce specific or critical parts or services for nuclear weapons systems;- Companies that produce other weapons and personnel for military use. This includes munitions, vehicles designed to carry military weapons (mounted or demountable), weapons delivery systems (including mounting and launching systems as well as targeting and guidance systems), and private military companies.Civilian Firearms:- Companies that produce firearms or ammunition for non-military use.  This includes handguns,  shotguns, rifles, and semi-automatic weapons.Company Conduct - Controversies - Controversies related to Principle 10 of the UN Global Compact, which is derived from the United Nations Convention Against Corruption. - Controversies related to Principles 7, 8 and 9 of the UN Global Compact which is derived from the Rio Declaration on Environment and Development. - Controversies related to Principles 1 and 2 of the UN Global Compact, which is derived from the Universal Declaration of Human Rights. - Controversies related to Principles 3, 4, 5 and 6 of the UN Global Compact, which is derived from the International Labour Organisation's Declaration on Fundamental Principles and Rights at Work.