The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies 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.

As part of its strategy, the fund employs a passive or indexing investment approach to track the price and yield performance of the Underlying Index.

Next, the research team invests significantly in the component securities of the Underlying Index (or depositary receipts representing those securities).

The Underlying Index seeks to identify the 150 highest yielding investable securities in the world within three asset classes.

The three global asset classes in the Underlying Index are equity securities, fixed income securities and alternative investments.

The research team employs a sampling strategy, which means that the fund will hold a portfolio of securities with generally the same risk and return characteristics of the Index.

Or, the fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

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 invest up to 20% of its net assets in instruments that are not component securities of the Underlying Index, including other exchange-traded funds.

The fund seeks to replicate the total return performance of the benchmark index, before fees and expenses, by investing in companies 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 the component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities.

The Index consists of long positions in the equity markets of foreign countries exhibiting relatively superior momentum characteristics among the foreign universe.

The foreign universe will be composed of countries from the developed and emerging markets, excluding the United States.

Also, the Index selects at least ten countries with the highest relative strength among the universe of 41 foreign countries on a quarterly basis.

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 seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

In addition, the fund employs a representative sampling strategy, which means that the fund will hold a portfolio of securities with generally the same risk and return characteristics of the Index.

The fund may also invest in cash and cash equivalents, other investment companies, as well as securities and other instruments not included in the Index.

The fund seeks primarily capital appreciation in the long term and secondarily capital preservation by investing in companies in the United States.

The fund employs a fund of funds strategy, which means that it primarily invests in exchange-traded funds.

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 other exchange-traded funds that invest primarily in domestic and foreign equity securities of any market capitalization, fixed-income securities of any credit quality, or alternative 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 invests in securities without restriction as to capitalization, credit quality or country.

In addition, the fund may invest in commodity futures through a wholly-owned and controlled Cayman subsidiary (the Tactical Subsidiary).

The fund may invest up to 25% of its net assets in the Tactical Subsidiary.

The Tactical Subsidiary invests primarily in commodity futures, as well as fixed-income securities and cash equivalents.

The fund may also invest in other investment companies (including affiliated funds).

The fund seeks to preserve capital while maximizing 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 in a variety of domestic fixed income securities.

In selecting investments for the portfolio, the team focuses on securities that offer an acceptable yield for a given level of credit risk and maturity.

In addition, the team seeks to identify short duration securities that offer a comparably better return potential and yield than money market funds.

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 fixed income instruments with a dollar-weighted average effective maturity of 0 to 2 years, including mortgage- or asset-backed securities, rated Baa- or higher by ratings agencies, or, if unrated, to be of comparable quality.

The fund may also invest in interest rate futures and forwards.