The investment objective of the Fund is to deliver the net total return performance of the Reference Index (being the MSCI Japan), less the fees and expenses and transaction costs of the Fund. The Reference Index is a broad-based equity index of securities generally incorporated in Japan. Securities listed on the Tokyo Stock Exchange, Osaka Stock Exchange, JASDAQ, or the Nagoya Stock Exchange are eligible for inclusion. The Reference Index represents companies that are available to investors world wide and provides a representation of 10 sectors with 317 constituents as of 30 September 2011.