Investment Objective: |
The Fund seeks to track the investment results of the FTSE World Government Bond Index Developed Markets 1-3 Years Capped Select Index (the Underlying Index ), which measures the performance of fixed-rate, local currency, investment-grade, sovereign bonds from certain developed markets, and is a subset of the FTSE World Government Bond Index Developed Markets (WGBI-DM) Index (the Parent Index ). To be eligible for inclusion in the Underlying Index, the issuing country must be classified by the International Monetary Fund or by the World Bank as a developed country, must meet market accessibility standards (as determined by FTSE), and must have a minimum market size greater than each of USD 50 billion, EUR 40 billion and JPY 5 trillion. Market size is defined as total outstanding market value of eligible securities. However, the Underlying Index excludes the U.S. The minimum credit rating for entry to the Underlying Index is A- by Standard & Poor s Financial Services LLC (S&P) and A3 by Moody s Investors Service. |