Industry description
The investment seeks to provide a consistently high total return from a broadly diversified portfolio of equity securities with risk characteristics similar to the S&P 500® Index.
The fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in equity securities. The fund may use derivatives as substitutes for securities in which it can invest. To the extent the fund uses derivatives, it will primarily use futures contracts to more effectively gain targeted equity exposure from its cash positions.