The Fund invests
primarily in common stocks of companies that comprise the S&P 500.
The Fund is not managed according to traditional methods of "active"
investment management, which involve the buying and selling of securities
based upon economic, financial and market analyses and investment judgment.
Instead, the Fund utilizes a "passive" or "indexing"
investment approach that attempts to replicate, before expenses, the performance
of the S&P 500.
A Fund seeking
to replicate, as closely as possible before expenses, the performance
of the Standard & Poor's 500 Composite Stock Price Index (the
"S&P 500 Index" or "Index"). |