The investment seeks to track the price and performance yield, before fees and expenses, of the S&P 500 TR index. The Index a free float market capitalization weighted index reflecting the performance of 500 large-cap common stocks of publicly held companies actively traded on either the NYSE Euronext or the NASDAQ OMX markets.
The fund will mainly invest in transferable securities and use derivative techniques such as index swap agreements negotiated at arm's length with the Swap Counterparty. It invests part or all of the net proceeds of any issue of its Shares in one or more OTC Swap Transactions and exchange the invested proceeds against the performance of the Index. The fund will not invest more than 10% of its assets in units or shares of other UCITS or other UCIs. The fund will in no circumstances be leveraged for investment purposes and will therefore not be subject to any shortfall risk. It will have no maturity date.