Invesco MSCI Europe ex-UK UCITS 

The Invesco MSCI Europe ex-UK UCITS ETF Acc's primary goal is to replicate the net total return performance of its benchmark, the MSCI Europe ex-UK Index (referred to as the 'Reference Index'), with its own fees deducted. This Reference Index serves to gauge the equity market's performance across developed European nations, specifically excluding the United Kingdom. It encompasses a broad spectrum of large and mid-capitalisation companies within these markets, effectively covering about 85% of the publicly traded market value in each nation. To achieve its objective, the fund constructs a portfolio of equities. While these holdings generally generate the bulk of the fund's returns, they are typically distinct from the actual constituents of the Reference Index. The fund also employs unfunded swaps. These financial contracts involve agreements with pre-approved counterparties to exchange with the fund any discrepancy between the returns of the Reference Index and the performance of the underlying equity basket. This strategy is designed to deliver a more precise and consistent alignment with the index's performance than purely investing in the index's physical components would allow. Although the fund's investment objective is to track the standard net total return index, the swaps it employs are benchmarked against an enhanced Withholding Tax version of that index. Consequently, the ETF's performance, prior to the deduction of fees, is expected to outperform the standard net return index. This ETF operates under a passive management strategy. Investing in it constitutes acquiring units in an index-tracking fund, meaning investors gain exposure to the fund's performance rather than direct ownership of its underlying assets.