The fund seeks total return 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 common stocks, preferred stocks and other hybrid securities, and fixed and floating-rate securities and other debt of U.S. and foreign issuers.
In selecting securities for the portfolio, the team seeks common stocks, preferred stocks and other hybrid securities and income instruments of U.S. and foreign issuers that may produce attractive levels of income.
Additionally, the team considers a company’s earnings or cash flow capabilities, dividend prospects, financial strength, growth potential, the strength of the company’s business franchises and management team, sustainability of a company’s competitiveness, and estimates of the company’s net value.
The team may also consider financially material environmental, social and governance factors in evaluating an issuer.
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 25% or more of its assets in each of the utilities and financial services sectors.
The fund will invest at least 30% of its net assets in securities or other instruments issued by issuers located outside of the United States, which may include emerging market countries; and in issuers located in at least five different countries (including the United States).
Also, the fund may invest in income instruments and preferred stocks and other hybrid securities of any rating category, or unrated, including those in default, with interest or dividends in arrears or not currently producing any income.
The fund may invest in exchange-traded funds in order to manage cash positions or to seek exposure to certain markets or market sectors.
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 a portfolio of common stocks.
In selecting securities for the portfolio, the research team focuses on companies that have sustainable earnings and cash flow, a superior and durable financial profile, secular and cyclical growth prospects, and the ability to maintain a competitive position within its industry.
Also, the research team integrates environmental, social and governance factors as part of its process.
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 25% of its net assets in foreign securities which may be issued by companies domiciled in developed or emerging market countries.
Also, the fund may invest in exchange-traded funds, as well as publicly traded real estate investment trusts.
The fund seeks current income exempt from regular federal income tax, 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 at least 80% of its net assets in municipal obligations with final maturities of between five and fifteen years, the interest on which is exempt from regular federal income tax.
With respect to 20% of its net assets, the fund may invest in municipal obligations that are not exempt from regular federal income tax, direct obligations of the U.S. Treasury and/or obligations of U.S. Government agencies, instrumentalities and government-sponsored enterprises.
In selecting obligations, the research team emphasizes the creditworthiness of the issuer or other person obligated to repay the obligation and the relative value of the obligation in the market
In evaluating creditworthiness, the team considers ratings assigned by rating agencies and generally performs additional credit and investment analysis.
Also, the research team integrates environmental, social and governance factors as part of its process.
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.
