The objective of the Fund is to seek to track the equity market performance of the US market. The investment policy of the Fund is to seek to track the performance of the MSCI USA 100% hedged to EUR Index (Net Return) (or any other index determined by the Directors from time to time to track substantially the same market as the MSCI USA 100% hedged to EUR Index (Net Return) and which is considered by the Directors to be an appropriate index for the Fund to track), in accordance with the Prospectus (the "Index") as closely as possible, while seeking to minimise as far as possible the difference in performance between the Fund and the Index.