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.

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

The Index is designed to measure the performance of robotics-related and/or automation-related companies.

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 research team employs a sampling methodology under various circumstances, including when it may not be possible or practicable to purchase all of the securities in the Index.

The fund may invest up to 20% of its net assets in investments that are not included in the Index.

Also, the fund will concentrate its investments in a particular industry or group of industries to approximately the same extent that the Index concentrates in an industry or group of industries.