Description

Under normal conditions, the fund is mandated to invest a minimum of 80% of its net assets, which includes any borrowed funds used for investment, in the common stocks that make up the S&P 500 Index. To achieve performance mirroring that of the index, the Investment Manager strives to distribute the fund's assets among these common stocks with approximately the same weightings as they hold within the S&P 500. Additionally, the fund reserves the right to employ derivatives, such as various types of futures (including equity index futures), primarily for managing cash to maintain full market exposure.