DNCA Invest Explorer SMID Euro A EUR Acc

Essential management characteristics: The investment objective is to outperform the MSCI EMU Small Cap index, over the recommended 5-year investment horizon. Investors’ attention is drawn to the fact that the management style is discretionary and integrates environmental, social / societal and governance (ESG) criteria. The initial investment universe, which include around 1500 issuers, is identified through financial and extra-financial approach as high-quality panEuropean growth stocks and which may belong to the MSCI EMU Small CAP Index and MSCI EMU Mid CAP Index, as well as stocks identified by the Management Company based on the financial and extra-financial analysis. The SRI approach is applied on the selected issuers from the initial investment universe. The Fund meets the criteria for responsible management. Accordingly, the investment process and the selection of all securities in the portfolio take into ac count an internal assessment of corporate responsibility of corporate responsibility: (i) shareholder responsibility (e.g.: accounting risks, management quality), (ii) social responsibility (e.g.: working conditions, training policy), (iii) societal responsibility (e.g.: tax optimization) and (iv) environmental responsibility (e.g.: environmental management, biodiversity) and sustainable transition. The rating process is limited by the reliability of published data, which relies on the credibility and auditing of companies' extra-financial reporting. Based on a proprietary analysis model, the Management Company implements a "best in universe" approach aimed at selecting the best-rated issuers from an extra-financial point of view in their investment universe, regardless of their sector of activity, resulting in a reduction of the initial universe by at least 30%. Extrafinancial analysis is carried out on at least 90% of the issuers in the portfolio. The investment process comprises three stages: (i) selection of the universe using a dual financial and extra-financial approach, in particular by excluding stocks with a risky corporate responsibility profile, (ii) portfolio construction using a macro-economic approach, (iii) fundamental analysis taking into account ESG criteria and the valuation of selected securities. At the last prospectus update date, the Fund benefits from the SRI label. The Product's management strategy is based on stock-picking approach and consists of seeking investment opportunities in small and mid-cap stocks in the Euro zone. Small and mid-cap stocks are defined as having capitalization levels broadly similar to those of the MSCI EMU Small Cap and MSCI EMU Smid Cap. The management team relies on an in-depth analysis of these companies, their strategic positioning, their financial strength and the quality of their management. The Fund's portfolio is permanently exposed to 90% net asset minimum in equities. The Sub-Fund may at any time invest in equities of issuers having their registered office in the Euro zone: from 75% to 100% of its net assets; equities outside the Euro zone (including emerging): from 0% to 25% of its net assets; emerging markets : up to 10% of its net assets ; fixed income securities and money market instruments or deposits: from 0% to 10% of its net assets with the interest rate sensitivity within the limit of 0,5. The Sub-Fund will be solely invested in securities belonging to the "investment grade" category i.e. having a rating of at least BBB- by Standard & Poor's or at least Baa3 by Moody’s or be considered equivalent by the Management Company using similar credit criteria at the time of purchase. When the issuer is not rated, the rating condition shall be fulfilled by the issue. If an investment grade bond is downgraded to sub-investment grade, the relevant asset will not be sold unless, in the opinion of the Management Company, it is in the best interest of Shareholders to do so.To ensure eligibility for the French Plan d'Epargne en Actions (PEA), the Sub-Fund will invest at least 75% of its assets in equity securities issued by issuers with their headquarters in an EEA state that has signed a tax agreement with France, including a clause on combating fraud and tax avoidance. The Sub-Fund may use exchange traded or OTC derivatives up to 50% of the Sub-Fund's net assets, including but not limited to, futures contracts and non-complex options negotiated on regulated markets for the purpose of hedging equity exposure. The Fund is actively managed. The index is used a posteriori as a performance comparison indicator. The fund manager may or may not invest in securities making up the benchmark at his or her own discretion and without any particular constraints. Other important information: Income isaccumulated The redemption of shares may be requested each day. Recommendedinvestment period: This sub-fundmay not beappropriateforinvestors whoplanto withdrawtheirmoney within 5 years.