Lyxor UCITS MSCI World Consumer Discretionary 

The Sub-Fund is an index-tracking UCITS passively managed. The Reference Currency of the Sub-Fund is the Euro (EUR). The investment objective of sub-fund is to track both the upward and the downward evolution of the MSCI World Consumer Discretionary Index ? Net Total Return (the Index) denominated in US Dollars - while minimising the volatility of the difference between the return of the Sub-Fund and the return of the Index (the ?Tracking Error?). The anticipated level of the tracking error under normal market conditions is expected to be up to 0.50%.