Principal Islamic Asset Management- Islamic Global Multi-Asset I GBP Acc

The Fund seeks to provide capital growth and income over the medium to long term. The Fund invests in a diversified portfolio of global Shariah-compliant instruments including equities and equity related securities, Shariahcompliant fixed income securities (Sukuk) and money market instruments. The Investment Manager will adopt a dynamic asset allocation strategy and has the flexibility to determine the allocation between these asset classes according to their views on prevailing market conditions. Depending upon the Investment Manager’s views on potential return/ risks in the prevailing market, the Fund's portfolio may be weighted towards return-seeking assets such as equities and equity related securities during times of robust/improving economic activity and weighted more towards Sukuk during times of negative economic activity. The resulting asset allocation will combine Shariah-compliant equities and equity related securities (up to 75% of the Fund’s Net Asset Value) and Sukuk (up to 85% of the Fund's Net Asset Value). The Fund may invest substantially (up to 85% of the Fund’s Net Asset Value) in Islamic money market instruments, however only where it anticipates that the markets or the economies of the countries where the Fund invests are experiencing excessive volatility or prolonged general decline or other adverse conditions. A proportion of the net assets of the Fund (subject to a maximum of 10% of its Net Asset Value) may be invested in Islamic UCITS eligible collective investment schemes. The Fund is subject to Shariah-compliant investments. The Fund can also invest in derivatives structured in accordance with Shariah principles. The Fund is actively managed without reference to a benchmark and the performance of the Fund is not intended to be compared directly with any specific publicly available benchmark. The MSCI ACWI Islamic Index, the Dow Jones Islamic Market Index and the Dow Jones Sukuk Total Return Index are referenced in order to help identify Shariah-compliant securities, however the portfolio manager maintains full discretion to select investments for the Fund in line with the above investment policy and with prior approval from the Shariah Advisor. Any income received by the share class will be reinvested. You may buy and sell Shares on any Business Day as defined in the Fund's supplement (which together with the prospectus constitute the Prospectus).