In seeking to achieve the investment objective for SPDR World (Hedged), the Investment Manager will employ a passive investment strategy comprising two components:
Investment component: to gain exposure to the securities comprising the Index indirectly by purchasing units in SPDR World; and
Currency hedging component: forward foreign exchange contracts will be entered into to reduce the impact of foreign currency fluctuations between the currencies in which each security in the SPDR World is denominated, and the Australian dollar.