PSP is passively managed to hold 40 to 75 securities in the private equity space that includes business development companies, alternative asset managers, master limited partnerships, and other similar vehicles that are listed on any nationally recognized exchange across the globe. The fund adjusts its market capitalization weighting based on purity scores. The scores are based on how companies pursue a private equity business model (buying private companies, enhancing them over 7 to 10 years, and then selling them). Firms such as alternative asset managers, holding companies, and investment banks, which have limited direct ownership of private companies, would receive lower purity scores. The index reconstitutes and rebalances its portfolio quarterly.