The fund seeks to replicate the aggregate price and dividend 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.
The passively managed fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.
Next, the research team invests in securities of companies included in the benchmark index. The Index is a widely recognized, unmanaged index representative of equity securities in developed markets, excluding the U.S. and Canada.
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.
Because the proportion of assets allocated to each country will approximate the relative country weights in the Index, more than 25% of the fund’s net assets may be invested in a single country such as the United Kingdom and Japan.