The Fund will, under normal circumstances, invest at least 80% of its total assets in securities of the Index. The Index is designed to track the performance of companies that derive at least 50% of their revenue and/or assets from (i) mining, exploration, development, or production of nickel (Nickel Mining Companies); (ii) investments in nickel that represent all or a significant portion of their assets, and/or (iii) supplying nickel (together with Nickel Mining Companies, Nickel Companies). The Index generally consists of from 20 to 35 constituents. Under normal circumstances, the Fund will invest at least 80% of its net assets, plus the amount of borrowings for investment purposes, in Nickel Mining Companies. This investment policy may be changed without shareholder approval, upon 60 days notice to shareholders.