The fund offers enhanced exposure to the large-cap segment of the US equity market. Through the use of cash borrowing, the fund aims to provide 1.25x leveraged exposure to the S&P 500, an index of committee-selected US large-cap companies that covers approximately 80% of the US investable universe. The index constituents are market-cap-weighted and rebalanced on a quarterly basis. As a geared product with daily resets, the fund is designed as a short-term tactical instrument and not a long-term investment vehicle. As a result, long-term returns could materially differ from those of the underlying index due to daily compounding.