The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.
The 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.
As part of its strategy, the fund employs a passive management or indexing approach to track the performance of the Index.
The Index is composed of the common stock or ADRs of Precious Metals Companies across the globe that earn at least 50 percent of their aggregate revenue from precious metals.
Precious metals consist of gold, silver, platinum, and palladium.
Next, the research team invests significantly in Precious Metals Companies.
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 seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.
In addition, the fund 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.
The fund invests 20% of its net assets in Precious Metals Companies that primarily derive their revenue from gold.
Also, the fund generally may invest 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.
The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies outside the United States.
The 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.
As part of its strategy, the fund employs a passive management or indexing approach to track the performance of the Index.
The Index is composed of the exchange-listed common stock (or depositary receipts) of U.S. and international passenger airlines, aircraft manufacturers, airports, and terminal services companies across the globe.
Next, the research team invests significantly in the component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities.
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 seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.
In addition, the fund 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.
Also, the fund generally may invest 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.
