The fund is passively managed. The aim is to reflect the performance, before fees and expenses, of the MSCI GCC Countries ex Select Securities Index (index) which is designed to reflect the performance of the shares of companies based in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates. 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. MSCI Inc. (index administrator) may exclude certain securities from time to time on the basis that they may have restrictions on foreign ownership.