Fund Description

The fund uses an indexing approach to track the MSCI US Investable Market Real Estate 25/50 Index, which is made up of stocks of large-, mid-, and small-cap U.S. real estate sector companies under GICS, including equity REITs (including specialized REITs) and real estate management and development companies. Under normal circumstances, it invests at least 80% of net assets, plus borrowings for investment purposes, in index stocks and seeks to hold each in roughly its index weight, either directly or indirectly through a wholly owned subsidiary (the Underlying Real Estate Fund). The fund is nondiversified and, as a fundamental policy, concentrates more than 25% of assets in real estate issuers.