iShares MSCI Japan GBP Hedged UCITS ETF (Acc)Index, costs, backtest, listings and taxation

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The Fund aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return on the MSCI Japan 100% Hedged to GBP Net TR Index, the Fund’s benchmark index (Index). The Index provides a return on the MSCI Japan TR Index which measures the performance of leading equity securities (e.g. shares) listed in Japan. The Index also uses one month foreign exchange (FX) forward contracts to hedge each non-Sterling currency in the Index back to Sterling in accordance with the MSCI Hedged Indices methodology. Hedging reduces the effect of fluctuations in the exchange rates between the currencies of the equity securities that make up the Index and Sterling, the base currency of the Fund. The Fund is passively managed and aims to invest in equity securities that, so far as possible and practicable, make up the MSCI Japan TR Index, as well as FX forward contracts that, so far as possible and practicable, track the hedging methodology of the Index. The Fund uses optimising techniques to achieve a similar return to its Index. These techniques may include the strategic selection of certain securities that make up the Index or other securities which provide similar performance to certain constituent securities. These may also include the use of financial derivative instruments (FDIs) (i.e. investments the prices of which are based on one or more underlying assets). FDIs may be used for direct investment purposes. The Fund may also engage in short-term secured lending of its investments to certain eligible third parties to generate additional income to off-set 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 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?”).

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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 V 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). The Fund’s base currency is Sterling. 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.

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