BNP Paribas Islamic Fund Hilal Income Classic Cap

The Fund aims to achieve attractive returns over the medium to long-term through capital appreciation and income relative to the returns of its benchmark Cash Index LIBOR USD 3 Months (RI). The Fund invests in Sharia compliant fixed income products known as Sukuk. Sukuk are certificates, representing a beneficial ownership in an underlying asset, which are similar to fixed income securities such as bonds. The Fund may also hold ancillary liquid assets. Sharia principles are the rules, precepts and parameters of Islamic law as interpreted by Islamic scholars including, in this instance, by the Fund’s Sharia committee (which is a panel of Islamic scholars appointed in respect of the Fund to provide guidance relating to the Fund’s compliance with Sharia principles). The Fund will invest in investment grade Sukuk, or Sukuk deemed by the investment manager to have an equivalent rating. The Fund is permitted to invest in Sukuk denominated in a currency or issued by a country other than that of the accounting currency of the Fund, which is U.S. dollars.