The objective of the sub-fund is to replicate the performance of the S&P 500 index (Net Total Return), regardless of its upward or downward trend. As the Sub-Fund is index-linked, its objective is to maintain the tracking error in absolute value between the change in the Sub-Fund's net asset value and that of the index at a level below 1%. If this tracking error exceeds 1%, it should in any case not exceed 5% of the index's volatility. The S&P 500 Index is an index made up of stocks of the 500 largest US companies.