XXSP

The fund will invest at least 80% of the value of its net assets, plus the amount of any borrowings for investment purposes, in a portfolio consisting of exposure to the equity securities of the companies included in the S&P 500 Index, other than the equity securities of the Excluded Enterprises (defined below). The S&P 500 Index includes approximately 500 of the largest U.S. companies listed on U.S. stock exchanges based on market capitalization. It is non-diversified.