The fund is a feeder fund and as such it invests in the iShares Global REIT ETF. This underlying fund tracks the Index and aims to replicate the performance of the Index. The FTSE EPRA/NAREIT Global REIT Index is designed to track the performance of listed real estate companies and REITs worldwide. The Index is rebalanced quarterly. The fund may also hold a small portion in cash instruments and listed derivatives to effect efficient portfolio management.