The investment objective of the Fund is to seek to provide investors with a total return, taking into account both capital and income returns, which reflects the return of the S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index. In order to achieve this investment objective, the investment policy of the Fund is to invest in a portfolio of equity securities that as far as possible and practicable consists of the component securities of the S&P Developed BMI Select Aerospace & Defense 35/20 Capped Index, the Fund’s Benchmark Index.