The Fund seeks to achieve its objective by tracking the performance of the MSCI World Minimum Volatility Net TR Index (AUD) (referred to in this section 7 of the PDS as the Index). 

The Fund aims to provide investors with the performance of an index, before fees and expenses. The index is designed to measure the performance of developed market equities that, in the aggregate, have lower volatility characteristics relative to the broader global developed equity markets. 

1. Diversified exposure to global stocks with potentially less risk

2. Minimum volatility strategies aim to lose less than the broad market during downturns

3. Seek to stay invested through various market conditions

We believe that an optimisation investment strategy is the most appropriate investment strategy to track the performance of the Index as it takes into account liquidity and transaction cost impact and overall risk relative to the Index.

Optimisation is an indexing strategy that involves investing in a representative sample of securities that collectively has an investment profile similar to that of the Index.

The securities selected are expected to have, in aggregate, investment characteristics (based on factors such as market capitalisation and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Index.

Therefore, the securities to which the Fund is exposed may or may not include all of the securitiesin itsIndex and the weighting ofsuch securities may differ to the weighting of securities in the Index

The Fund generally invests in the global developed market equity securities that form the Index.

The Fund may have limited exposure to securities that are not constituents of the Index, including derivatives, where such securities provide similar performance (with matching risk profile) to Index securities.

However, from time to time the Fund may invest in all constituents of the Index.

The Fund may also be exposed to a small allocation of cash (or cash equivalents, that may include other BlackRock Group funds) for cash flow management purposes.