The Sub-fund will take exposure of at least two thirds of its total assets to equities of companies all over the world which operate or benefit from developments across the water value chain, i.e. utilities, equipment and products for effective water sourcing, collection and distribution, materials for water infrastructure as well as technologies for water quality and analytics. This includes companies incorporated or having the major part of their business activities in mature economies (developed markets) as well as in developing economies (emerging markets and which show an elevated degree of sustainability.