FLAU

About FLAU

Undernormal market conditions, the Fund invests at least 80% of its assets in the component securities ofthe FTSE Australia Capped Index and in depositary receipts representing such securities. The FTSE AustraliaCapped Index is a free float-adjusted market capitalization weighted index maintained and calculatedby FTSE Russell with a capping methodology applied quarterly to issuer weights so that no single issuerof a component exceeds 25% of the FTSE Australia Capped Index weight, and all issuers with weights above5% do not cumulatively exceed 50% of the FTSE Australia Capped Index’s weight. The FTSE AustraliaCapped Index is based on the FTSE Australia Index and is designed to measure the performance of Australianlarge- and mid-capitalization stocks. FTSE Russell determines eligible securities for the FTSE AustraliaCapped Index based on measures such as the company’s place of incorporation, listing country, investorprotection regulations present in the country of incorporation, tax domicile, location of headquarters/factorsof production and currency of denomination. As of May 31, 2024, the FTSE Australia Capped Index was comprisedof 113 securities with capitalizations ranging from $858 million to $150.00 billion.The Fund, using a “passive”or indexing investment approach, seeks investment results that closely correspond, before fees and expenses,to the performance of the FTSE Australia Capped Index. The Fund may use either a replication strategyor representative sampling strategy. Under a replication strategy, the Fund will replicate the componentsecurities of the FTSE Australia Capped Index as closely as possible (i.e., invest in all of the componentsecurities in their respective weightings in the FTSE Australia Capped Index). However, under variouscircumstances, it may not be possible or practicable to replicate the FTSE Australia Capped Index. Inthese circumstances, the Fund may use a “representative sampling” strategy whereby the Fundwould invest in what it believes to be a representative sample of the component securities of the FTSEAustralia Capped Index, but may not track the FTSE Australia Capped Index with the same degree of accuracyas would an investment vehicle replicating the entire FTSE Australia Capped Index. Under the representativesampling technique, the investment manager will select securities that collectively have an investmentprofile similar to that of the FTSE Australia Capped Index, including securities that resemble thoseincluded in the FTSE Australia Capped Index in terms of risk factors, performance attributes and othercharacteristics, such as market capitalization and industry weightings.TheFund may invest in equity futures (including equity index futures) and equity total return swaps to provideadditional opportunities to add value and better track the performance of the Fund’s UnderlyingIndex, such as to equitize cash and accrued income, simulate investments in the Underlying Index, facilitatetrading or minimize transaction costs.The Fund may enter into foreign currency forward contractsand/or currency futures contracts to provide the Fund with additional opportunities to add value andbetter track the performance of the Fund’s Underlying Index, such as by facilitating local securitiessettlements or protecting against currency exposure in connection with distributions to Fund shareholders.TheFund is a "non-diversified" fund, which means it generally invests a greater proportion of its assetsin the securities of one or more issuers and invests overall in a smaller number of issuers than a diversifiedfund.TheFund will concentrate its investments (i.e., hold 25% or more of its net assets) in a particular industryor group of industries to approximately the same extent that the FTSE Australia Capped Index is concentrated.As of May 31, 2024, the FTSE Australia Capped Index was concentrated in the financial services sector.