| Investment Objective: |
The Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in equity securities, including depositary receipts, and/or instruments that provide economic exposure to Memory Companies, including Underlying ETFs. The Fund defines "Memory Companies" as companies that, at the time of investment, derive at least 50% of their revenues or profits from the design, development, production, or manufacture of memory-related semiconductor products or storage technologies. In general, the Fund seeks to invest in Memory Companies that the Sub-Adviser believes are leaders in semiconductor memory products and related technologies, based on factors such as market share and the proportion of revenue derived from such products. The Fund may invest in U.S. and non-U.S. issuers, including those in developed and emerging markets, and may gain such exposure through American Depositary Receipts ("ADRs"), Global Depositary Receipts ("GDRs"), and other depositary receipts. The fund may also obtain exposure to Memory Companies indirectly primarily through options contracts. The options strategies most frequently used by the Fund include: Synthetic Covered Calls, Credit Call Spreads, Credit Put Spreads. |
