The investment seeks to provide capital appreciation. Under normal circumstances, the fund invests at least 80% of its assets (net assets plus the amount of any borrowings made for investment purposes) in equity securities. It seeks to achieve its investment objective by investing at least 80% of its assets in an “enhanced index,” which primarily consist of common stocks of medium to large capitalization companies in the S&P 500 Index (“Index”). The fund is non-diversified.