Macquarie True Index Emerging Markets

"True Indexing is designed to result in pre-tax performance for investors that equal the Index performance. The Fund achieves this by: • investing in shares, derivatives and cash, either directly or through underlying funds that are managed by members of the Macquarie Group (Underlying Investments) with the aim of providing exposure that closely resembles the exposure of the Index, and • entering into a swap agreement. If the Underlying Investments outperform the Index, the Swap Counterparty receives this outperformance, and vice versa"