Previous campaigns
Changes to the holdings of some campaigns
SAP SE
Affected campaigns
August 2025
Basket of securities
ESG Global Diversified
Impact
Replacement of SAP SE by Terna – Rete Elettrica Nazionale
In light of recent questions about its compliance with ethical standards for controversial business practices, the title SAP SE (SAP GY) has been replaced with Terna – Rete Elettrica Nazionale (TRN IM) in the ESG Global Diversified basket. Since the security change occurred prior to campaign’s initial date, only the TRM IM return will be considered.
Sanofi
Affected campaigns
June 2017, August 2017, October 2017, December 2017, February 2018, April 2018, June 2018, August 2018, October 2018, April 2021, June 2021, August 2021, October 2021, December 2021, February 2022, April 2022
Basket of securities
Europe, Global Diversified, Global Opportunities
Impact
Spin-off of Euroapi SASU (EAPI FP) by Sanofi (SAN FP)
On May 6, 2022, Sanofi conducted a spin-off of its subsidiary Euroapi SASU a final distribution ratio of 0.043478261 common share of Euroapi SASU per common share of Sanofi held. As a result of this transaction and to preserve as much as possible the nature of the reference basket, the latest was adjusted effective May 6, 2022 as follows: all shares allocated to Sanofi were replaced by the combination of 1 common share of Sanofi plus 0.043478261 common share of Euroapi SASU. Therefore, the combination will be the relevant underlying when determining returns on the basket on each valuation date, beginning May 6, 2022.