The investment objective of the MULTIUNITS LUXEMBOURG - Lyxor MSCISouth Africa UCITS ETF (the ?Sub-Fund?)is to track both the upward and thedownward evolution of the MSCI SouthAfrica Net Total Return index (the ?Index?)denominated in US Dollars andrepresentative of the South African equitymarket, while minimizing the volatility of thedifference between the return of theSub-Fund and the return of the Index (the?Tracking Error?).
