The fund is passively managed. The aim is to reflect the performance, before fees and expenses, of the MSCI World Utilities Total Return Net Index which is designed to reflect the performance of the listed shares of certain companies from various developed countries. The shares are issued by companies in the utilities sector, for example, power, water and gas services. A companys weighting in the index depends on its relative size based on the combined value of a companys readily available shares as compared to other companies.