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 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.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in securities included in the Index and in depositary receipts such as American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts representing securities included in the Index.

The Index is designed to track the performance of companies located in major developed markets of Europe, Canada and the Pacific Region.

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.

To the extent that the Index concentrates in the securities of a particular industry or group of industries, the fund will do so in approximately the same amount as the Index.

The fund may invest in certain derivative instruments that may not be included in the Index, cash and cash equivalents, including money market funds, as well as in securities that are not included in the Index.

Additionally, the fund may lend securities representing up to one-third of the value of its net assets.
 

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 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.

As part of its strategy, the fund employs a passive or indexing approach.

Next, the research team invests significantly in the equity securities that are components of the Index and in depositary receipts such as American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts representing securities of the Index.

The Index is designed to enhance return potential available from investment in a capitalization-weighted universe of developed and emerging markets located outside the U.S.

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.

To the extent that the Index concentrates in the securities of a particular industry or group of industries, the fund will do so in approximately the same amount as the Index.

The fund may invest in certain derivative instruments that may not be included in the Index, cash and cash equivalents, including money market funds, as well as in securities that are not included in the Index.

Additionally, the fund may lend securities representing up to one-third of the value of its net assets.

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.

As part of its strategy, the fund employs a passive or indexing approach.

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 securities of the Index and in depositary receipts (such as American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts) representing securities of the Index.

The Index is comprised of securities of issuers located in emerging 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.

The fund may invest in certain derivative instruments that may not be included in the Index, cash and cash equivalents, including money market funds, as well as in securities that are not included in the Index.

To the extent that the Index concentrates in the securities of a particular industry or group of industries, the fund will do so in approximately the same amount as the Index.

Also, the fund may lend securities representing up to one-third of the value of its net assets.

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

The Index is designed to provide equity exposure to the US market with up to 15% less volatility over a complete market cycle than traditional capitalization-weighted indices.

Next, the research team invests significantly in securities of the Index and in depositary receipts representing securities of 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.

To the extent that the Index concentrates (i.e., holds 25% or more of its net assets) in the securities of a particular industry or group of industries, the fund will do so in approximately the same amount as the Index.

The fund may invest in certain instruments that are not included in the Index, cash and cash equivalents, including money market funds.

In addition, the fund may lend securities representing up to one-third of the value of its net assets.

The fund seeks current income and total return 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 investment grade and non-investment grade municipal securities that are attractive from a yield perspective while considering total return. 

When selecting securities for the portfolio, the team combines a top-down strategy, bottom-up fundamental research and comprehensive risk management.

As part of the fundamental research, the team seeks to identify relative value among sectors, within sectors, and between individual securities.

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 35% of its net assets in non-investment grade municipal securities.

Also, the fund may invest in securities that produce income subject to income tax, including the Alternative Minimum Tax.

The fund may invest in securities of any maturity or duration.
 

The fund seeks total return on an after-tax basis 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.

The fund’s sub-sub-adviser is Schroder Investment Management North America Limited.

Next, the research team invests significantly in U.S. dollar-denominated, investment-grade fixed income debt instruments.

When making investment decisions, the team takes into consideration the maximum federal tax rates.

In selecting securities for the portfolio, the team assesses an issue’s historical relationships to other bonds, technical factors including supply and demand and fundamental risk and reward relationships.

As part of this analysis, the team also considers sector exposures, interest rate duration, yield and the relationship between yields and maturity dates.

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 manager allocates the fund’s net assets among taxable and tax-exempt investments with no limitation on the amount of assets that may be invested in either category. 

The fund invests in a diversified portfolio of fixed income debt instruments of varying maturities. 

The fund may invest without limit in U.S. dollar denominated foreign securities.

Also, the fund may invest a portion of its assets in cash and cash equivalents.

The fund seeks to provide current income and long-term 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 fixed income securities, including Bank Loans.

The team favors securities that are considered to be attractive giving consideration to both yield and total return.

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 securities of foreign issuers.

The fund may invest up to 35% of its net assets in non-investment grade fixed income securities.

The fund may also invest up to 35% of its net assets in bank loans or loan participation interests in secured or unsecured variable, fixed or floating rate loans to U.S. and foreign corporations, partnerships and other entities.

In addition, the fund utilizes derivatives such as Treasury futures, options and interest rate swaps to manage interest rate risk.

The fund seeks primarily total return and secondarily income 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 bonds that are considered to be attractive.

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.

Additionally, the fund may invest up to 40% of its net assets in debt securities of foreign issuers, including from emerging markets, and up to 20% of its net assets in non-dollar securities.

The fund may invest up to 20% of its net assets in securities rated below investment grade.

Also, the fund may use derivatives to manage portfolio risk or for other investment purposes.

The fund may invest in Rule 144A securities.