The investment seeks to replicate as closely as possible, before expenses, the performance of the S&P 500® Index. The index is a well-known stock market index that includes common stocks of approximately 500 companies from all major industries representing a significant portion of the market value of all common stocks publicly traded in the United States, most of which are listed on the New York Stock Exchange. Under normal circumstances, the advisor intends to invest at least 95% of the fund's net assets, plus any borrowings for investment purposes, in securities listed in the index.