Fund Description

The fund was incepted on August 7, 2000 and is managed by Jonathan C. Jankus since its inception. The fund seeks to track the investment performance of the Standard & Poor's 500 Composite Stock Price Index ('S&P 500 Index'), which emphasizes securities issued by large U.S. companies. At least 95% of the total fund's assets are usually invested in the stocks of companies included in the S&P 500 Index. The S&P 500 Index is an unmanaged index of 500 common stocks selected by Standard & Poor's as representative of a broad range of industries within the U.S. economy. It is comprised primarily of stocks issued by large capitalization companies. The index is often considered to be the performance benchmark for U.S. stock market performance in general. However, there is no assurance that the fund will track the performance of the S&P 500 Index perfectly. The fund distributes dividends to shareholders twice a year. Capital gains, if any, are distributed annually.