Invesco MSCI Kuwait UCITS 

This Invesco Exchange Traded Fund (ETF) is structured to mirror the financial performance of the MSCI Kuwait 20/35 Index, net of any operational expenses. This benchmark index serves to evaluate the equity market in Kuwait, encompassing major large and mid-sized companies that collectively represent approximately 85% of the market's freely traded capitalisation. To achieve this objective, the fund primarily invests in a diverse portfolio of stocks. While these holdings are responsible for generating the bulk of the fund's returns, they typically do not perfectly match the specific securities found in the reference index. Additionally, the fund employs unfunded swap agreements with approved financial institutions. These contracts facilitate the exchange of any disparity between the returns of the benchmark index and the performance of the fund's internal equity basket. This synthetic replication strategy aims to deliver a more precise and stable alignment with the index's performance than could generally be achieved through simply holding the physical underlying assets. Operating as a passively managed product, this ETF is designed solely to track its chosen index without active stock selection by a fund manager. Therefore, when investors acquire units in this fund, they are purchasing a share in a passively managed, index-following investment vehicle, rather than obtaining direct ownership of the individual companies held within the fund's portfolio.