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The fund is a passively managed ETF. The objective of the fund is to achieve the net total return performance of the Russell 2000 Index (the Index), less fees, expenses and transaction costs. To achieve the objective the fund will use unfunded swaps (Swaps). The Index is a subset of the Russell 3000, representing approximately 10% of the market capitalisation of that index. The Index is comprised of approximately the 2000 companies with the lowest market capitalisation of the Russell 3000 and therefore provide a representation of the performance of the US small cap sector. Income is reinvested into the fund.
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