The fund seeks to track the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs a passive management or indexing approach tha More

The fund seeks to track the total return performance of the benchmark index before fees and expenses by investing in companies in the United States.

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The fund employs a passive management or indexing approach that is designed to track the performance of the Index.

The Index is composed of approximately 30 pharmaceutical or biotechnology companies that have a high strategic focus on the development of drugs that harness the body’s own immune system to fight cancer (immunotherapy).

Next, the research team invests significantly in the component securities that make up the Index.

In addition, the research team employs a representative sampling strategy, which means that the fund will hold a portfolio of securities with generally the same risk and return characteristics of the Index.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund utilizes a replication strategy, meaning it generally will invest in all of the component securities of the Index.

Also, the fund generally may invest up to 20% of its net assets in securities or other investments not included in the Index.

To the extent the Index concentrates in the securities of a particular industry or group of related industries, the fund will concentrate its investments to approximately the same extent as the Index.

However, the fund is estimated to concentrate in Immunotherapy Companies.