FLGB

About FLGB

Undernormal market conditions, the Fund invests at least 80% of its assets in the component securities ofthe FTSE UK Capped Index and in depositary receipts representing such securities. The FTSE UK CappedIndex is a free float-adjusted market capitalization weighted index maintained and calculated by FTSERussell with a capping methodology applied quarterly to issuer weights so that no single issuer of acomponent exceeds 25% of the FTSE UK Capped Index weight, and all issuers with weights above 5% do notcumulatively exceed 50% of the FTSE UK Capped Index’s weight. The FTSE UK Capped Index is based onthe FTSE UK Index and is designed to measure the performance of United Kingdom large- and mid-capitalizationstocks. FTSE Russell determines eligible securities for the FTSE UK Capped Index based on measures suchas the company’s place of incorporation, listing country, investor protection regulations present inthe country of incorporation, tax domicile, location of headquarters/factors of production and currencyof denomination. As of May 31, 2021, the FTSE UK Capped Index was comprised of 119 securities with capitalizationsranging from $918 million to $157.96 billion.The Fund, using a “passive” or indexing investment approach,seeks investment results that closely correspond, before fees and expenses, to the performance of theFTSE UK Capped Index. The investment manager seeks to achieve, over time, a correlation between the Fund’sperformance, before fees and expenses, and that of the FTSE UK Capped Index of 0.95 or better. A figureof 1.00 would indicate perfect correlation. The Fund may use either a replication strategy or representativesampling strategy. Under a replication strategy, the Fund will replicate the component securities ofthe FTSE UK Capped Index as closely as possible (i.e., invest in all of the component securities in theirrespective weightings in the FTSE UK Capped Index). However, under various circumstances, it may notbe possible or practicable to replicate the FTSE UK Capped Index. In these circumstances, the Fund mayuse a “representative sampling” strategy whereby the Fund would invest in what it believes to bea representative sample of the component securities of the FTSE UK Capped Index, but may not track theFTSE UK Capped Index with the same degree of accuracy as would an investment vehicle replicating theentire FTSE UK Capped Index. Under the representative sampling technique, the investment manager willselect securities that collectively have an investment profile similar to that of the FTSE UK CappedIndex, including securities that resemble those included in the FTSE UK Capped Index in terms of riskfactors, performance attributes and other characteristics, such as market capitalization and industryweightingsTheFund 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.The Fund will concentrate its investments (i.e., hold 25% or more of its net assets)in a particular industry or group of industries to approximately the same extent that the FTSE UK CappedIndex is concentrated.