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

The sub-adviser’s 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 significantly in American Depositary Receipts (ADRs) and in securities that have economic characteristics similar to ADRs.

The team follows the relative strength investing strategy.

In addition, the team takes into account current sector and industry group allocations.

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 invests in developed and emerging markets and may also invest in repurchase agreements.

The fund seeks capital appreciation in the long term by investing in companies in the United States.

The sub-adviser’s 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 significantly in micro-cap securities and seeks to identify the companies with the highest relative strength.

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 invests in equity securities consisting of common and preferred stock and American Depositary Receipts.
 

The fund seeks capital appreciation by investing in mega-and large-size companies in the United States.

The sub-adviser’s 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 the fund’s net assets in investments that create or result in short exposure to U.S. equity securities.

The team then narrows the investable universe to a list of securities with the highest relative weakness.

In addition, the team seeks to identify market periods, where the stocks with the most relative weakness may subsequently outperform the broader market.

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.

As part of its strategy, the fund may hold U.S. government securities, short-term high quality fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and cash equivalents with maturities of one year or less, and ETFs that invest in these types of instruments.

The fund seeks capital appreciation in the long term by investing in large-and mega-size companies in the United States.

The sub-adviser’s 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 significantly in equity securities.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team focuses on companies that are mispriced due to temporary reasons.

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 portfolio holds approximately from 35 to 50 names.

The fund invests in the broad U.S. equity market, including through American Depositary Receipts.

Also, the fund may invest in mid-capitalization equity securities.
 

The fund seeks capital appreciation in the long term by investing in companies across any size in 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 significantly in equity securities.

The team favors fundamentally sound companies with consistent financial strength and that have demonstrated high earnings quality.

In addition, the team prefers stocks with a track record of sales and earnings growth or companies that have steadily increased their earnings and dividends for several years.

The team believes these companies have superior operating histories with dominant position in their respective markets and proven management teams.

In addition, the team also considers companies that have a unique opportunity for growth.

The team also focuses on companies that are lagging in market price and are trading at a discount to their estimated intrinsic value.

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 invests in equity securities consisting of common and preferred stock and American Depositary Receipts.

The fund seeks current income consistent with preservation of capital, by investing in companies outside the United States.

The sub-adviser’s 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 significantly in investment-grade securities.

The team looks to capitalize on opportunities across undervalued areas of the bond markets.

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.

Generally, the fund will limit its investments in corporate high-yield securities to 10% of its assets and will limit its investments in non-U.S. issuers to 30% of its assets.

The fund’s investments among various sectors of the fixed income markets include corporate investment-grade, corporate high-yield, bank loans, non-agency commercial mortgage-backed securities, and agency and non-agency residential mortgage-backed securities.

Other sectors of the fixed income markets include non-U.S. dollar securities, emerging market high-yield securities, Yankee investment-grade bonds, asset-backed securities, taxable municipal bonds, tax-exempt municipal bonds, and securities issued or guaranteed as to principal and interest by the U.S. Government, its agencies, authorities or instrumentalities.

Also, the fund may invest up to 20% of its total assets in securities that are rated below investment-grade at the time of purchase.

The fund seeks to preserve capital while maximizing income by investing in companies in the United States.

The sub-adviser’s 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 a variety of fixed income securities, including bonds, forwards and instruments issued by U.S. and foreign issuers.

Also, the team focuses primarily in U.S. dollar-denominated investment grade debt securities, including mortgage- or asset-backed securities, rated Baa or higher by the ratings agencies or, if unrated, to be of comparable quality.

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 invest in futures and swaps.

Additionally, on a day-to-day basis, the fund may hold money market instruments, cash, other cash equivalents, and exchange traded products that invest in these and other highly liquid instruments to collateralize its derivative positions.

The fund seeks consistent repeatable returns across all market cycles, by investing in companies outside the United States.

The sub-adviser’s 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 ETFs and exchange-traded notes that seek to track a diversified basket of global indices and investment sectors.

In selecting securities for the portfolio, the research team focuses on the size, historical track record, diversification among indices, the correlation of an index to other indices and an ability to write covered call options on the particular ETP.

Also, the team may invest in individual securities. Individual security selection criteria include fundamental, behavior, qualitative and macro-economic data.

In addition, the team utilizes a proprietary strategy known as Volatility Enhanced Global Appreciation (VEGA).

The team seeks to participate in the appreciation of the underlying assets while reducing the overall volatility of a global portfolio through the use of options.

The option strategies utilized are limited to covered call writing, selling cash-secured puts, and purchasing protective puts.

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 also may invest in exchange-traded products that invest directly in commodities or currencies.

The fund seeks capital appreciation in the long term by investing in companies across any size in 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 securities of companies that derive at least 50% of their net revenue from tobacco and alcoholic beverages, or from the food and beverage industry, or from gaming activities.

The team favors fundamentally sound companies with consistent financial strength and that have demonstrated earnings quality.

Additionally, the team selects companies with superior operating histories and dominant positions in their respective markets.

In addition, the team also considers companies that have a unique opportunity for growth.

The team also focuses on companies that are lagging in market price and are trading at a discount to their estimated intrinsic value.

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 invests in equity securities consisting of common and preferred stock and American Depositary Receipts.

The fund concentrates at least 25% of its investments in the food, beverage & tobacco industry group within the consumer staples sector.

Additionally, the fund may invest in equity securities of companies that engage in other vice-related business activities.

The fund seeks to provide a high level of current income by investing in companies in the United States.

The sub-adviser’s 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 significantly in senior secured floating rate loans and other adjustable rate securities.

Other adjustable rate securities will typically include collateralized loan obligations, asset-backed securities, and commercial mortgage backed securities.

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 is estimated to invest primarily in loans and Adjustable Rate Securities that are rated below investment grade or, if unrated, of comparable quality.

Also, the fund may invest in U.S.-dollar denominated senior floating rate loans and Adjustable Rate Securities of domestic and foreign issuers.

The fund may invest up to 20% of its net assets in certain other types of debt instruments or securities, including corporate bonds and secured or unsecured second lien floating rate loans.

Additionally, the fund may invest from time to time more heavily in one or more sectors of the economy than in other sectors.

The fund seeks capital appreciation by investing in mid-and large-size companies in the United States.

The sub-adviser’s 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 short positions in equity securities.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team focuses on securities with low earnings quality or aggressive accounting.

In addition, the team seeks to identify earnings driven events that may act as a catalyst to the price decline of a security.

Also, the team assesses a company’s management team, accounting practices, corporate governance and competitive advantage.

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 hold U.S. government securities, short-term high quality fixed income securities, money market instruments, overnight and fixed-term repurchase agreements, cash and cash equivalents with maturities of one year or less, and ETFs that invest in these types of instruments.