BKLC

About BKLC

To pursue its goal, the fundnormally invests substantially all of its assets in equity securities comprising the Solactive GBS UnitedStates 500 Index TR (index). Under normal circumstances, the fund will invest at least 80% of its netassets, plus any borrowings for investment purposes, in equity securities of large-capitalization U.S.companies, ETFs providing exposure to such securities, and derivatives with economic characteristicssimilar to such securities. The fund considers large-capitalization companies to be companies with marketcapitalizations within the range of market capitalization of the companies included in the index. Asof December 31, 2024, the full market capitalization range of companies included in the index was $950million to $3.70 trillion. The fund considers a U.S. company to be a company whose securities are listedon a U.S. stock market.The Solactive GBS United States 500 Index TR is a free floatmarket capitalization weighted index designed to measure the performance of 500 of the largest companieslisted on U.S. stock markets. The index's universe of eligible securities includes common stock andshares of real estate investment trusts (REITs) listed on the New York Stock Exchange, NYSE Market LLC,NYSE Arca, NASDAQ, Investors Exchange, or BATS Exchange, traded in U.S. dollars, and that meet certaintradability requirements. At each reconstitution, eligible securities are ranked by total market capitalizationin descending order. All securities ranked in the top 425 are selected for inclusion in the index andcurrent index constituents with a rank from 426 to 600 are selected until the total number of companiesin the index equals 500. If the total number of companies is below 500, the highest-ranking remainingsecurities are selected until 500 is reached. The index reconstitutes quarterly in February, May, August,and November. As of December 31, 2024, the index was comprised of 503 securities. Undernormal circumstances,the fund generallyinvests in all ofthe stocks inthe index in proportionto their weightingin the index. However,the fund mayinvest in a representativesample of theindex if replicatingthe index couldbe detrimental or disadvantageousto shareholders,such as whenthere arepractical difficultiesor substantialcosts involved in compilinga portfolioof equity securitiesto replicatethe index, ininstances in which asecurity in the indexbecomes temporarily illiquid,unavailable or lessliquid, or asa resultof legal restrictionsor limitations(such as taxdiversification requirements)that apply tothe fund but notthe index.Inseeking to track the index, the fund's assets may be concentrated in (i.e., more than 25% of the fund'sassets invested in) an industry or group of industries, but only to the extent that the index concentratesin a particular industry or group of industries. As of December 31, 2024, approximately 44.33% of theindex consisted of securities of issuers in the information technology sector.Thefund is classified as diversified under the Investment Company Act of 1940, as amended (1940 Act); however,the fund may become non-diversified solely as a result of changes in the composition of the index (e.g.,changes in weightings of one or more component securities). When the fund is non-diversified, it mayinvest a relatively high percentage of its assets in a limited number of issuers.