Description

This fund typically allocates a substantial majority—at least 80%—of its total net assets (including any funds obtained through borrowing for investment purposes) to common shares of companies found within the S&P 500 Index. Its primary goal is to mirror the performance of this benchmark, which the Investment Manager attempts to achieve by distributing the fund's holdings among these equities in approximately the same proportions as the index itself. The fund also has the option to employ derivative instruments, such as futures (including those tied to equity indices), mainly for the purpose of managing its cash positions effectively.