iShares AI Innovation Active UCITS ETFIndex, costs, backtest, listings and taxation

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The Fund is actively managed and aims to generate long term capital growth by investing globally at least 70% of its total assets in the equity securities of companies whose predominant economic activity is the advancement, development, and use of artificial intelligence ("AI") technology.

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The Investment Manager ("IM") considers a company to be an AI company if it is expected to derive future revenue from the advancement, development, and/or use of AI technology. In normal market conditions the Fund will invest in equity securities of companies with large, medium and small market capitalization (market capitalization is the share price of the company multiplied by the number of shares issued). Although it is likely that most of the Fund’s investments will be in companies located in developed markets globally, the Fund may also invest in emerging markets. The Fund will also invest in accordance with its ESG Policy as outlined in the Fund’s prospectus. The IM has full discretion to select the Fund's investments and is not constrained by any benchmark in this process. The MSCI ACWI Index should be used by investors to compare the performance of the Fund. The IM will also refer to the Morningstar Global Artificial Intelligence Select Index (the "AI Index") for risk management purposes to ensure that the active risk (i.e. degree of deviation from the AI Index) taken by the Fund remains appropriate given the Fund’s investment objective and policy. The IM is not bound by the components or weighting of the AI Index when selecting investments. The IM may use financial derivative instruments ("FDIs") (i.e. investments the prices of which are based on one or more underlying assets) for investment purposes in order to achieve the investment objective of the Fund, and/or to reduce risk within the Fund’s portfolio, reduce investment costs and generate additional income. The Fund may, via FDIs, generate varying amounts of market leverage (i.e. where the Fund gains market exposure in excess of the value of its assets). The Fund may also indirectly invest in equities by investing in American Depositary Receipts ("ADRs") and Global Depositary Receipts ("GDRs"), which are listed or traded on stock exchanges and regulated markets. ADRs and GDRs are investments issued by financial institutions which give exposure to underlying equity securities. The Fund may engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to offset the costs of the Fund. The price of equity securities fluctuates daily and may be influenced by factors affecting the performance of the individual companies issuing the equities, as well as by daily stock market movements, and broader economic and political developments which in turn may affect the value of your investment.

The return on your investment in the Fund is directly related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The relationship between the return on your investment, how it is impacted and the period for which you hold your investment is considered below (see “How long should I hold it and can I take my money out early?”).

The depositary of the Fund is State Street Custodial Services (Ireland) Limited. Further information about the Fund can be obtained from the latest annual report and half-yearly reports of the iShares III plc. These documents are available free of charge in English and certain other languages. These can be found, along with other (practical) information, including prices of units, on the iShares website at: www.ishares.com or by calling +49 89427295800 or from your broker or financial adviser.

Your shares will be accumulating shares (i.e. income will be included in their value). Your shares will be denominated in US Dollar, the Fund's base currency. The shares are listed and traded on various stock exchanges. In normal circumstances, only authorised participants may buy and sell shares directly with the Fund. Investors who are not authorised participants (e.g. select financial institutions) can generally only buy or sell the shares on the secondary market (e.g. via a broker on a stock exchange) at the then prevailing market price. The value of the shares are related to the value of the underlying assets of the Fund, less costs (see “What are the costs?” below). The prevailing market price at which the shares trade on the secondary market may deviate from the value of the Shares. Indicative net asset value is published on relevant stock exchanges websites.

Intended retail investor:The Fund is intended for retail investors with the ability to bear losses up to the amount invested in the Fund (see “How long should I hold it and can I take my money out early?”).

Insurance benefits:The Fund does not offer any insurance benefits.

Countries

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