Fund Description

The fund is managed by Security Management Company, LLC and was incepted in July 2003. The fund seeks long-term growth of capital. The fund pursues its objective by investing, under normal market conditions, approximately 50% of its total assets according to a long/short strategy managed by the fund's sub-adviser and 50% of its total assets in a portfolio of equity securities, equity derivatives and fixed income securities that is intended to closely track the performance of the S&P 500 Composite Stock Price Index (the 'S&P 500 Index').