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 in a diversified portfolio of 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 estimated to trade below their fair values.
In addition, the team prefers attractive-valued companies with solid business franchises, sustainable margins/cash flow, disciplined capital allocation, experienced management teams, and balance sheet 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 at least 40% of its net assets in securities of issuers domiciled outside of the United States, including in emerging markets. This includes securities of foreign issuers that trade on U.S. exchanges.