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 securities of issuers in emerging markets or that are More

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 securities of issuers in emerging markets or that are tied economically to emerging markets that are deemed to be Sector Leaders.

The team defines Sector Leaders to be those issuers that are highly ranked, or those that are estimated to be highly ranked in the future, in terms of market share or market capitalization within their respective country, region, industry, products produced or services offered.

According to the team, an emerging market country includes any country that is generally recognized to be an emerging market country by the international financial community, or classified by the United Nations as a developing country, or included in the MSCI Emerging Markets Index.

Also, the investment team determines an investment to be tied economically to an emerging market if the issuer’s primary trading market is in an emerging market, or the issuer is organized under the laws of, derives at least 50% of its revenue from, or has at least 50% of its assets in, emerging markets.

In addition, the team considers if the investment is included in an index representative of emerging markets; and the investment is exposed to the economic risks and returns of emerging markets.

The team also may consider product segments or types of services provided by an issuer that are outside of the issuer’s generally recognized industry classification.

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 more than 25% of its net assets in issuers located in a single country or in a limited number of countries.

However, the fund invests in at least three different countries.