The investment seeks long-term capital appreciation.
The fund normally invests at least 80% of its investable assets in equity and equity-related securities of companies within the financial services sector, such as banks, savings and loan associations (and other thrifts), mortgage banking companies, finance companies, insurance companies, securities/brokerage firms, asset management companies, securities exchanges, leasing companies and consumer and industrial finance companies, and other companies that are primarily engaged in providing financial services. It is non-diversified.
The investment seeks investment results that, before fees and expenses, correspond generally to the total return performance of an index that tracks the S&P Developed Ex-U.S. BMI Financials Sector Index.
The fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index or in American Depositary Receipts ("ADRs") or Global Depositary Receipts ("GDRs") based on securities comprising the index. The index is designed to represent the non-U.S. financial sub-industry of developed countries included in the S&P Global BMI. The fund is non-diversified.