The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in real assets and securities of companies that derive at least 50% of their More

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in real assets and securities of companies that derive at least 50% of their profits or revenues from, or commit at least 50% of assets to, real assets and activities related to real assets.

Real assets include any assets that have physical properties, such as energy and natural resources, real estate, basic materials, equipment, utilities and infrastructure, and commodities.

The fund allocates its assets among categories such as domestic and international real estate and securities of companies tied to the real estate industry, utilities and infrastructure, natural resources and commodities, and master limited partnerships).

Also, the fund will invest at least 25% of its net assets in the securities of issuers conducting their principal business activities in the energy and other natural resources groups of industries.

The investment team considers a company to be principally engaged in natural resources industries if the company has the potential for capital appreciation primarily as a result of particular products, technology, patents or other market advantages in natural resource industries.

A portion of the fund’s net assets may also be invested in securities of companies that own, explore, mine, process or otherwise develop natural resources, or supply goods and services to such companies.

The fund may employ a multi-manager investing approach with the aim of reducing volatility and downside risk.

The fund manages assets with the help of sub-advisers, each of which would be responsible for investing its allocated portion of the fund’s assets.

Regardless of whether a multi-manager strategy is employed, the manager will invest all or a portion of the fund’s net assets in shares of one or more exchange-traded funds.

The fund’s assets are allocated between exchange-traded funds and sub-advisers, who may invest the fund’s net assets in securities of issuers located anywhere in the world.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The fund may also at times hold a substantial portion of its assets in cash or cash equivalents.

Additionally, the fund may lend portfolio securities to earn additional income.

The fund is non-diversified and estimates to hold a larger portion of its assets in a smaller number of issuers.