| Investment Objective: |
GSK plc ADRhedged seeks to provide investment results that correspond generally, before fees and expenses, to the total return of the ordinary shares of GSK plc in its local market. GSK Plc is a UK-listed multinational pharmaceutical company based around two divisions: Prescription medicines (Includes ViiV HIV joint venture with Pfizer and Shionogi) and Vaccines. In prescription drugs and Vaccines its key franchises include HIV & Shingrix (shingles vaccine). Under normal circumstances, fund invests at least 95% of its net assets in American Depositary Receipts ("ADRs") of GSK plc . The Series will not invest directly in the Company. The Series invests in the ADRs of the Company (the "Portfolio Securities") and a currency swap (the "Currency Hedge Contract") designed to hedge against fluctuations in the exchange rate between the U.S. dollar and the British pound ("Local Currency"). The Currency Hedge Contract is with a counterparty acting as principal. The notional value of the Currency Hedge Contract is adjusted daily based on the current value of the Portfolio Securities. |
