Status: Global Indexed Fund

Fund on basis of companies in MSCI Emerging Markets Index, an index created by Morgan Stanley Capital International (MSCI) that is designed to measure equity market performance in global emerging markets.

The Emerging Markets Index is a float-adjusted market capitalization index. As of May 2005, it consisted of indices in 26 emerging economies: Argentina, Brazil, Chile, China, Colombia, Czech Republic, Egypt, Hungary, India, Indonesia, Israel, Jordan, Korea, Malaysia, Mexico, Morocco, Pakistan, Peru, Philippines, Poland, Russia, South Africa, Taiwan, Thailand, Turkey and Venezuela.

Included following companies in different business sectors:

Samsung Electronics Co. Ltd. ADR SMSN
Taiwan Semiconductor Manufacturing Co. Ltd. ADR TSM
Kookmin Bank ADR KB
POSCO ADR PKX
United Microelectronics Corp. ADR UMC
Korea Electric Power Corp. ADR KEP
AU Optronics Corp. ADR AUO
Siliconware Precision Industries Co. ADR SPIL
Chunghwa Telecom Co. Ltd. ADR CHT
Lukoil Sponsored ADR LUKOY
America Movil SA de CV Series L AMXL
China Mobile (Hong Kong) Ltd.
Sasol Ltd. SOL
PetroChina Co. Ltd. Class H
Companhia Vale do Rio Doce Sponsored ADR RIOP
Teva Pharmaceutical Industries Ltd. TEVA
Petroleo Brasileiro SA Preferred ADR PBRA
Companhia Vale do Rio Doce ADR RIO
SurgutNefteGaz Sponsored ADR SGTZY
OTP Bank Rt.