The Fund focuses on capital growth by investing primarily in companies listed on the Belgian or Dutch stock exchange and in companies based in Belgium or the Netherlands. The Fund applies active portfolio management and focuses on selecting companies that are leaders in their respective industries and offer the most attractive shareholder value, which is assessed using a thorough business analysis. The Fund also incorporates ESG factors, both in its fundamental analyses and in the investment process. The Fund is actively managed by applying deviation limits compared to the benchmark. We primarily choose shares that are expected to rise in value due to the quality of their balance sheets and the strength of the companies concerned. Measured over a period of several years, the Fund aims to exceed the results of the benchmark; 50% for the BEL 20 index (NR) and 50% for the AEX index (NR). This benchmark is a reinvestment index and a broad representation of our investment universe. The Fund may invest in securities outside this universe, such as companies listed in France or Germany. Therefore, the composition of the Fund's investments may differ from that of the benchmark. Investors should be aware that the investment universe of the fund is concentrated and as a result the Fund portfolio is concentrated. As a result, the composition and return profile of the Fund and the benchmark will generally be comparable. The Fund promotes environmental and/or social characteristics, as described in Article 8 of the Sustainable Finance Disclosure Regulation ("SFDR"). Specifically, this means that the Fund manager looks beyond mere financial criteria. Restriction criteria and the analysis of environmental, social and governance factors, hereinafter referred to as ESG factors, are also included in the decision-making process for investments. In accordance with the Responsible Investment Policy (published on the website www.gsam.com/responsible-investing), the Fund applies restriction criteria to issuing bodies involved in activities including, but not limited to, developing, producing, maintaining or trading in controversial weapons, manufacturing tobacco products, extracting coal for electricity production and extracting oil from oil sands. The Fund does not invest in companies that violate generally accepted values and standards, including violating the UN Guiding Principles on Business and Human Rights and the UN Global Compact and close involvement with dictatorial regimes. The exercise of active share ownership is part of the investment process and plays an important role in contributing to reducing sustainability risks, as well as increasing the long-term economic and social value of the issuing body over time. You can sell your shares in the Fund on any trading day on which the value of these shares is calculated. This takes place daily for this Fund. The Fund does not aim to pay you a dividend but will reinvest all income.