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Summary:The investment seeks results that correspond to the performance, before fees and expenses, of the Bank of New York BRIC Select ADR Index. The fund will invest at least 90% of assets in ADRs and GDRs that comprise the index. The index consists of approximately 75 securities. It includes U.S. exchange-listed ADRs and GDRs of companies from Brazil, Russia, India and China. About 50% of the index is comprised of comapnies located in Brazil, 6% in Russia, 18% in India, and 26% in China. It is nondiversified.

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