The investment seeks to track the investment results of the FTSE China 50 Index composed of large-capitalization Chinese equities that trade on the Hong Kong Stock Exchange. The fund generally invests at least 80% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The index designed to measure the performance of the largest companies in the Chinese equity market that trade on the Stock Exchange of Hong Kong (SEHK) and are available to international investors, as determined by FTSE International Limited (the index provider or FTSE). The fund is non-diversified.