Information on Benchmarks

Benchmark returns have been obtained from a non-affiliated third party MSCI Inc. source. Neither MSCI Inc. nor any other party involved in or related to compiling, computing, or creat­ing the MSCI Inc. data make any express warranties or representatives with respect to data accuracy and com­pleteness.

The MSCI All Country World Index (Net) (MSCI ACWI) is a global equity index, which tracks stocks from 23 developed and 24 emerging markets countries. With 2,757 constituents (as at 30 August 2024), the index covers approximately 85% of the global investable equity opportunity set.

The MSCI All Country World ex‑USA Index (Net) (MSCI ACWI ex USA) captures large and mid‑cap representation across 22 of 23 developed market coun­tries and 24 emerging markets countries. With 2,156 con­stituents (as of 30 August 2024), the index covers approx­imately 85% of the global equity opportunity set outside of the US.

The MSCI Emerging Markets (Net) Index is a free float-adjusted market capitalization index that consists of indices in 24 emerging economies. With 1,328 constit­uents (as at 30 August 2024), the index covers about 85% of the free float-adjusted market capitalization in each country.

The MSCI USA High Dividend Yield (Net) Index is a free float-adjusted market cap index consisting of US companies designed to reflect the performance of com­panies with higher than average dividend yields. The in­dex is net of foreign withholding taxes and dividends, is unmanaged, and does not include the effect of fees. It’s not possible to invest directly in an index.

The MSCI ACWI High Dividend Yield (Net) Index is a free float-adjusted market cap index consisting of de­veloped and emerging market companies, designed to reflect the performance of companies with higher than average dividend yields. The index is net of foreign with­holding taxes and dividends, is unmanaged, and does not include the effect of fees. It’s not possible to invest direct­ly in an index.

The MSCI ACWI ex USA High Dividend Yield (Net) Index is a free float-adjusted market cap index consisting of developed (ex US) and emerging market companies, designed to reflect the performance of companies with higher than average dividend yields. The index is net of foreign withholding taxes and dividends, is unmanaged, and does not include the effect of fees. It’s not possible to invest directly in an index.

The MSCI ACWI Value (Net) Index captures large and mid-cap securities exhibiting overall value style characteristics across 22 Developed and 24 Emerging Markets countries. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield. It’s not possible to invest directly in an index.

The MSCI USA Value (Net) Index captures large and mid-cap US securities exhibiting overall value style characteristics. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield. It’s not possible to invest directly in an index.

The MSCI ACWI ex USA Value (Net) Index captures large and mid-cap securities exhibiting overall value style characteristics across 22 Developed and 24 Emerging Markets countries excluding the United States. The value investment style characteristics for index construction are defined using three variables: book value to price, 12-month forward earnings to price and dividend yield. The index is net of foreign withholding taxes and dividends, is unmanaged, and do not include the effect of fees. It’s not possible to invest directly in an index.

The S&P 500® Index is a widely used stock market index that can serve as barometer of US stock market performance, particularly with respect to larger capitaliza­tion stocks. It is a market-weighted index of stocks of 500 leading companies in leading industries and represents a significant portion of the market value of all stocks pub­licly traded in the United States. The S&P 500 Index is a product of S&P Dow Jones Indices LLC, a division of S&P Global, or its affiliates (SPDJI) and has been licensed for use by GQG Partners LLC. Standard & Poor’s® and S&P® are registered trademarks of Standard & Poor’s Fi­nancial Services LLC, a division of S&P Global (S&P); Dow Jones® is a registered trademark of Dow Jones Trade­mark Holdings LLC (Dow Jones). GQG Partners LLC US Equity is not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

Information about benchmark indices is provided to al­low you to compare it to the performance of GQG strat­egies. Investors often use these well-known and widely recognized indices as one way to gauge the investment performance of an investment manager’s strategy com­pared to investment sectors that correspond to the strat­egy. However, GQG’s investment strategies are actively managed and not intended to replicate the performance of the indices: the performance and volatility of GQG’s investment strategies may differ materially from the per­formance and volatility of their benchmark indices.

Information on Additional Indices

The CAC 40 is a benchmark French stock market index. The index represents a capitalization-weighted measure of the 40 most significant stocks among the 100 largest market caps on the Euronext Paris.

The iBoxx Global Government Index is designed to reflect the performance of global local currency denominated investment grade sovereign debt. The index rules aim to offer a broad coverage of the investment grade global sovereign bond universe whilst upholding minimum standards of investability and liquidity.

The MSCI China Index captures large and mid-cap representation across China A shares, H shares, B shares, Red chips, P chips and foreign listings (e.g. ADRs). The index covers about 85% of this China equity universe. Currently, the index includes Large Cap A and Mid Cap A shares represented at 20% of their free float adjusted market capitalization.

The MSCI Europe Index captures large and mid-cap representation across 15 Developed Markets (DM) countries in Europe. The index covers approximately 85% of the free float-adjusted market capitalization across the European Developed Markets equity universe.

The MSCI Hong Kong Index is designed to measure the performance of the large and mid-cap segments of the Hong Kong market. The index covers approximately 85% of the free float-adjusted market capitalization of the Hong Kong equity universe.

The MSCI India Index is designed to measure the performance of the large and mid-cap segments of the Indian market. The index covers approximately 85% of the Indian equity universe.

The MSCI Japan Index is designed to measure the performance of the large and mid-cap segments of the Japanese market. The index covers approximately 85% of the free float-adjusted market capitalization in Japan.

The MSCI Korea Index is designed to measure the performance of the large and mid-cap segments of the South Korean market. The index covers about 85% of the Korean equity universe.

The MSCI Mexico Index is designed to measure the performance of the large and mid-cap segments of the Mexican market. The index covers approximately 85% of the free float-adjusted market capitalization in Mexico.

The MSCI Taiwan Index is designed to measure the performance of the large and mid-cap segments of the Taiwan market. The index covers approximately 85% of the free float-adjusted market capitalization in Taiwan.

The MSCI United Kingdom Index is designed to measure the performance of the large and mid-cap segments of the UK market. The index covers approximately 85% of the free float-adjusted market capitalization in the UK.

The MSCI USA Index is designed to measure the performance of the large and mid-cap segments of the US market. The index covers approximately 85% of the free float-adjusted market capitalization in the US.

The MSCI USA Growth Index captures large and mid-cap securities exhibiting overall growth style characteristics in the US. The growth investment style characteristics for index construction are defined using five variables: long-term forward EPS growth rate, short-term forward EPS growth rate, current internal growth rate and long- term historical EPS growth trend and long-term historical sales per share growth trend.