The fund is actively managed and aims to reflect the price return of US large cap equities represented by the S&P 500 Index (the Index) up to an approximate cap on positive performance of the Index (the Upside Cap) whilst seeking to provide a level of downside protection against negative performance of the Index (the Approximate Buffer) when shares are held from the beginning to the end of a specified one year outcome period (the Outcome Period). The Approximate Buffer aims to protect against approximately 100% of the Indexs downside performance where shares are held for an entire Outcome Period. Income is reinvested into the fund.
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