Fund Description

The fund seeks long-term capital growth by outperforming the S&P 500 Index over a full market cycle while maintaining a similar level of market risk. It targets equity-like volatility by allocating among S&P 500 constituent common stocks, money market instruments, equity index futures and related options, and U.S. Treasury bond futures (linked to bonds in the Bloomberg U.S. Long Treasury Index) and related options. Derivatives may create leverage, and overall equity exposure is adjusted within 50%-150% of net assets. It normally invests at least 80% of net assets in U.S. issuers or linked derivatives.