The fund seeks to provide both capital appreciation and income by investing in small-and mid-size companies outside the United States.

The 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 issued by companies located throughout the world t More

The fund seeks to provide both capital appreciation and income by investing in small-and mid-size companies outside the United States.

The 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 issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.