MSCI ACWI ex USA Capped Index

The MSCI ACWI ex USA Capped Index is designed to represent the performance of Developed Markets (DM) countries (excluding the US) and Emerging Markets (EM) countries. The index includes securities that are classified in ACWI ex USA according to the MSCI Global Investable Market Index Methodology, together with companies that are headquartered or listed in ACWI ex USA and carry out the majority of their operations in ACWI ex USA. The index is designed to take into account the 10% and 40% concentration constraints set out in the UCITS regulations. At each quarterly rebalance, no single group entity may exceed 10% of the index weight, and the sum of all group entities with index weights greater than 5% may not collectively exceed 40% of the index weight.