Michigan Public School Employees

State Street S&P 500 Index

Manager: State Street

Category: Large Cap Domestic Stock Index

Objective: Match the performance of the Standard & Poor's 500 Index.

Strategy: The Fund invests in all 500 stocks in the S&P Index in proportion to their weightings in the Index. The Fund may also hold 2-5% of its value in futures contracts (an agreement to buy or sell a specific security by a specific date at an agreed upon price). The strategy of investing in the same stocks as the Index minimizes the need for trading and therefore results in lower expenses.

Fund fact sheet