The Fund aims to provide investors with a return that (before fees and expenses) tracks the performance of the Morningstar® Global Technology Moat Focus IndexSM (the “Index”).
The Morningstar® Developed Markets Technology Moat Focus IndexSM provides exposure to technology sector companies with Morningstar Economic Moat Ratings of ‘wide’ or ‘narrow’ that are trading at low market price/fair value ratios. Economic Moat Ratings are a measure of quality that relates to the sustainability of a company’s competitive advantages. Wide moat companies are positioned to sustain economic profits for at least 20 years, narrow moat companies, for at least 10. Moat ratings and fair value estimates are determined through independent research conducted by the Morningstar Equity Research team.