Industry description
The investment seeks to provide investment results that correspond to the price and yield performance of the S&P 500 Index.
The fund normally invests over 80% of its investable assets in securities included in the S&P 500 Index in approximately the same proportions as those of the index. The S&P 500 Index is an unmanaged index of over 500 stocks of large U.S. public companies. The advisor attempts to replicate the security composition of the S&P 500 Index by holding each stock in the S&P 500 Index in about the same proportion as represented in the index itself. The fund is non-diversified.