The Fund aims to provide capital growth over the long term by investing in a concentrated, actively managed portfolio of equity securities and/ or depositary receipts listed in the U.S. Under normal circumstances, the Fund will invest at least 90% of its assets in equity securities of U.S. companies and/or depositary receipts of non U.S. companies. The Fund is actively managed. The S&P 500 Index, which is broadly representative of the companies in which the Fund may invest, is used for performance comparison purposes only.