Description

The primary objective of this fund is to replicate the total return, encompassing both price changes and dividend income, of publicly traded common stocks as represented by the Standard & Poor's 500® Index (S&P 500 Index). It achieves this by employing a "passive" investment strategy, where its subadviser builds a portfolio intended to closely mirror the index's performance, avoiding active stock selection. At least 80% of the fund's net assets are invested in the equity securities of companies that make up this benchmark index. This benchmark itself consists of roughly 500 common stocks chosen by Standard & Poor's, most of which are listed on prominent exchanges like the New York Stock Exchange or NASDAQ.