The Trojan Ethical Income Fund's ethical investment criteria were established as a result of consultation with the fund’s seed investor and other potential investors prior to launch. The ethical criteria have been reviewed and adjusted twice since launch in January 2016. It is anticipated that they will be reviewed on an ad hoc basis in future. However we do not anticipate further material change due to the public nature of the fund and the diverse investor base. Any changes made to the criteria will be notified to investors in accordance with the relevant regulatory requirements.