North Carolina International Index Fund

The Fund invests in the BlackRock MSCI ACWI ex-U.S. IMI Index Non- Lendable Fund collective investment trust (“C.I.T.”) managed by BlackRock which, attempts to replicate the composition and performance of the BlackRock MSCI ACWI ex-U.S. IMI Index. The Fund will invest primarily in a portfolio of international equity securities. ................
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