The investment objective of the Fund is to track the price and the performance, before fees and expenses, of an index that is designed to measure the performance of companies that are involved in the development, manufacturing, commercialisation, and storage of memory semiconductors and data storage systems. In order to seek to achieve its investment objective, the Fund will adopt a passive management investment strategy and will seek to employ a replication methodology, meaning as far as possible and practicable, it will invest in the securities in proportion to the weightings comprising the Indxx Defiance Global Memory Chip Select Index (the Index).