The Sub-Fund is a passively managed, index-tracking UCITS. The Sub-Fund tracks the NYSE Arca Gold BUGS TR Index (ISIN XC0009699965) (the “Index”) as benchmark index and its investment objective is to provide investors with a return that is tied to the performance of the Index. The Index is comprised of gold-mining companies that do not hedge their gold production beyond 1.5 years. Only the share prices of companies contained in the Index are taken into account in the Index calculation. Information on the Index is available at www.nyse.com/indices. In order to attain the investment objective, the Sub-Fund, in compliance with the investment restrictions, strives to replicate the Index by acquiring all (or in exceptional cases a significant number of) the Index components in the same ratio as the Index (as determined by the investment manager). The Sub-Fund may not hold each component and/or not the exact weighting of an Index component. Instead, replication of the Index’s performance can be sought by using optimisation techniques and/or investing in securities that are not Index components and/or by using financial derivatives. The use of derivative instruments is possible in the interests of investors. Securities lending transactions may be concluded for the Sub- Fund. The indicative net asset value is published on the website www.boerse-frankfurt.de/etf as well as on the websites of other financial data providers (e.g. Bloomberg, Reuters, Telekurs). The indicative net asset value may also be published on other websites. The Sub-Fund’s units may be redeemed at their net asset value (NAV) on any bank business day or traded at their current market price on an exchange or over the counter. The Management Company may suspend redemption if exceptional circumstances make this necessary when taking investors’ interests into account. The base currency of the Sub-Fund is USD. The Sub-Fund is a distributing fund, i.e. any dividends and other income can be distributed.