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

The sub-advisers’ 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 focuses on securities of non-U.S. companies in developed markets, More

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

The sub-advisers’ 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 focuses on securities of non-U.S. companies in developed markets, with increased exposure to smaller capitalization, lower relative price, and higher profitability companies.

In assessing relative price, the team relies on valuation multiples such as cash flow or earnings.

However, in assessing profitability, the team considers ratios of earnings or profits from operations relative to book value or assets.

Also, the team assesses companies on factors such as free float, momentum, trading strategies, liquidity, size, relative price, profitability, and investment characteristics.

Additionally, in assessing a company’s investment characteristics, the team considers ratios such as recent changes in assets divided by total assets.

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 excludes companies that earn at least 20% of their total annual revenue through the production and/or sale of conventional or nuclear weapons, or are engaged in business activities in or with the Republic of the Sudan, or earn at least 15% of their total annual revenue through the production and/or sale of tobacco, alcohol, or cannabis products, or earn at least 20% of their total annual revenue from certain gambling activities.

Other social screens include excluding companies that directly participate in abortions, or earn at least 15% of their total annual revenue from the rental, sale, distribution or production of pornographic materials, or are involved in the production or manufacture of landmines or civilian firearms, or have had major recent controversies relating to child labor infractions in the U.S. or abroad.

Finally, as part of its social issue screens, the portfolio avoids companies that are involved in stem cell research, or have high carbon or greenhouse gas emissions, or have meaningful exposure to coal.

The fund may lend its portfolio securities to generate additional income.