The Osmosis Resource Efficient Core Equity (ex-fossil fuel) Strategy targets maximum resource efficiency exposure while maintaining a tight tracking error to the MSCI World. The strategy excludes companies with a material involvement in (i.e. deriving greater than 5% of their revenues from) the fossil fuels industry or nuclear power generation, as well as companies with material involvement with nuclear and controversial weapons, civilian firearms, tobacco companies and companies in breach of any of the UN Global Compact Principles. Excluded transitioning companies in the utility sector are subject to the possibility of re-inclusion. The portfolio seeks to deliver better risk-adjusted returns relative to the benchmark while simultaneously delivering a significant reduction in the ownership of carbon, water and waste.