The investment seeks total return.
Under normal market conditions, the fund invests primarily in equity securities, including common stocks. Although it invests in equity securities issued by companies of any capitalization, the advisor focuses a greater portion of its investments in larger-capitalization ("larger cap") companies, many of which generate income through dividend distributions as well as providing capital appreciation opportunities.
The investment seeks to replicate, net of expenses, the CBOE S&P 500 BuyWrite Index.
The index is designed to measure the total rate of return of a hypothetical “buy-write”, or “covered call”, strategy on the S&P 500 Index. This strategy consists of a hypothetical portfolio consisting of a “long” position indexed to the S&P 500 Index and the sale of a succession of one-month, at- or slightly out-of-the-money
S&P 500 Index call options that are listed on the Chicago Board Options Exchange.
The investment seeks to replicate, net of expense, the Morningstar Wide Moat Focus Total Return Index.
The index contains companies that have sustainable competitive advantages and that trade at discounts or Morningstar's determination of their fair value. It contains approximately 20 companies.