The Libra Investment Services Smart Alpha US Large-Cap Value Index is a 48-stock, equal-weighted Equity Style portfolio, designed to provide a positive, long only exposure to value. The portfolio’s value holdings are systematically identified and selected from the current S&P500 universe, using Libra’s proprietary Smart Alpha stock selection and factor risk models. Smart Alpha’s systematic rebalancing approach means that the portfolio is reviewed and updated every two months, ensuring that both the risk profile and expected return of the portfolio are maintained in line with the strategy objectives of value-based, sustainable compound returns.