Industry description
The investment seeks to provide investment results that, before fees and expenses, correspond generally to the price performance of a specific benchmark designed to track the aggregate performance of U.S. venture capital-backed companies.
Under normal circumstances, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in the component publicly listed assets included in the underlying index. The index seeks to replicate the aggregate gross performance of U.S. venture capital-backed companies by exclusively holding publicly listed assets. It does not invest in venture capital funds or start-up companies.