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INVESTMENT PHILOSOPHY

The investment objective of the C WorldWide Global Equities Ethical composite is to achieve long-term capital growth exceeding the return of the market with a moderate risk profile in line with or below the market risk.

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The portfolio invests in global equities and in companies considered to demonstrate socially responsible conduct. In addition the portfolio does not invest in companies that have a substantial part of their activities in the production, distribution or sale of alcohol, tobacco, pornography, gambling, weapons or technological products used specifically for weapons purposes. C WorldWide Global Equities Ethical applies the same investment process as C WorldWide Global Equities, but before investing in a new company, its portfolio will be screened by an external consultant to ensure that the companies of the portfolio comply with international conventions and standards and apply social and environmental considerations.