The fund seeks capital appreciation in the long term by investing in mega-and large-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 relies on a proprietary strategy to identify companies that will increase in value over time.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the team emphasizes companies whose earnings and revenues are not only growing, but growing at an accelerating pace.

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 manager invests in companies located in at least three developed countries world-wide (excluding the United States).

The portfolio holds approximately 35 to 50 companies.

The fund may also invest in emerging market countries.

The fund seeks capital appreciation in the long term by investing in mega-and large-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 relies on a proprietary strategy to identify companies that will increase in value over time.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the team emphasizes companies whose earnings and revenues are not only growing, but growing at an accelerating pace.

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 manager invests in companies located in at least three developed countries world-wide (excluding the United States).

The portfolio holds approximately 35 to 50 companies.

The fund may also invest in emerging market countries.

The fund seeks capital appreciation in the long term by investing in mega-and large-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 relies on a proprietary strategy to identify companies that will increase in value over time.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the team emphasizes companies whose earnings and revenues are not only growing, but growing at an accelerating pace.

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 manager invests in companies located in at least three developed countries world-wide (excluding the United States).

The fund may also invest in emerging market countries.
 

The fund seeks capital appreciation in the long term by investing in mega-and large-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 relies on a proprietary strategy to identify companies that will increase in value over time.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the team emphasizes companies whose earnings and revenues are not only growing, but growing at an accelerating pace.

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 manager invests in companies located in at least three developed countries world-wide (excluding the United States).

The fund may also invest in emerging market countries.
 

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers

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 process focuses on stocks of issuers in Europe and the Pacific Basin.

The investment team believes a country will be considered part of Europe if it is part of the MSCI European indexes, and part of the Pacific Basin if any of its borders touches the Pacific Ocean.

Also, in determining the domicile of an issuer, the team considers the domicile determination of a leading provider of global indexes, such as Morgan Stanley Capital International.

Other factors that the team may take into account are where the company’s securities are listed and where the company is legally organized, maintains principal corporate offices, conducts its principal operations and/or generates revenues.

Then the research team prefers companies demonstrating the potential for growth, namely the potential for above-average capital appreciation.

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 manager favors attractively valued companies in developed and emerging markets that are positioned to benefit from innovation, global economic growth, increasing consumer demand or a turnaround in business conditions.

The fund seeks total return including dividend by investing in companies in developed international markets outside the United States.

The sub-advisor’s investment process is driven by fundamental research and quantitative analysis of one company at a time. The research team screens financial statements of companies in the regions that meet broad revenue and earnings growth and trends criteria.

The team then narrows the list with the help of detailed fundamental analysis of growth drivers, business model and long term sustainability of earnings.

The team favors established companies with a proven track record of earnings and a clarity on growth outlook with stocks trading at reasonable prices.

The fund is geographically diversified and investments Japan account about 25% of total assets with additional 42% invested in companies in Switzerland, U.K., France, and Denmark.

The fund seeks capital appreciation by primarily investing in international companies and to a lesser extent in the United States.

The investment process focuses on stock selection that meets growth, quality and price criteria. Quantitative research focuses on sectors and industries and in identifying trends and market leaders.

Then the research team analyzes individual companies using fundamental research techniques and qualitative evaluation of business models and management track records.

The fund favors companies with attractive growth profile, high strategic and operational business, and reasonable stock prices with long term appreciation potential.

Geographically the fund is diversified with investments in North and South America, Western Europe and Asia. About 55% of total assets are invested in Germany, France, Japan, Switzerland, and China.  

The fund seeks capital appreciation in the long term by investing in mega-and large-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 investment team focuses on securities of non-U.S. companies.

The team considers non-U.S. companies are companies domiciled or headquartered outside of the United States, or whose primary business activities or principal trading markets are located outside of the United States.

Also, the team relies on fundamental analysis to identify good businesses that are selling at value prices.

The team believes good businesses have a superior, defendable market niche or products and services niche that is difficult to replicate.

Other attributes in consideration would be companies with a high degree of relative recurring revenue and modestly priced products or services.

The research team also prefers companies exhibiting attractive return-on-investment economics and above-average growth or improving profitability prospects.

The team has a strong orientation to low absolute and relative valuations.

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 portfolio hold between 25 and 40 stocks, with most major industry groups represented.

The majority of the fund’s investments will be in companies that have global operations rather than in companies whose business is limited to a particular country or geographic region.

Also, the fund invests substantially, namely, more than 25% of its net assets in issuers located in a limited number of countries.

The fund seeks total return 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 focuses on foreign companies located principally in developed markets across Europe, Japan and Asia Pacific ex Japan.

The team seeks to identify attractive investment opportunities arising due to certain capital cycle, or supply-side conditions.

Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition.

In addition, the team relies on fundamental analysis to evaluate businesses and the industry within which they operate.

Another important aspect of the analysis is the research meetings with company management teams.

When selecting securities for the portfolio, the team assesses if companies deploy capital efficiently, and/or company management teams are appropriately incentivized.

Other factors that the team focuses on are whether companies operate in a monopolistic, oligopolistic or consolidating industry.

In addition, the team determines if the companies are generating high and durable returns on invested capital, and attractive or improving free cash-flow.

Additionally, 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 maintains an aggregate portfolio that is broadly regionally neutral relative to the benchmark index.

The portfolio holds between 350 and 450 companies across Europe, Japan, the Pacific Basin and has a limited allocation to emerging markets.

The fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.

The fund seeks capital appreciation in the long term by investing in mid-and large-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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 quality growth companies that have durable earnings growth, efficient capital allocation, and attractive prices.

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 manager invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest up to 1.25 times the amount of the exposure to emerging markets countries in the MSCI All Country World ex-U.S. Growth Index.

The fund seeks capital appreciation in the long term by investing in mid-and large-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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 quality growth companies that have durable earnings growth, efficient capital allocation, and attractive prices.

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 manager invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest up to 1.25 times the amount of the exposure to emerging markets countries in the MSCI All Country World ex-U.S. Growth Index.

The fund seeks high total return 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 focuses on securities of foreign companies in a number of developed and emerging markets outside of the U.S.

The team defines foreign companies as companies that are organized under the laws of a foreign country, or whose principal trading market is in a foreign country.

Other factors in consideration would be companies that have a majority of their assets, or that derive a majority of their revenue or profits, from businesses, investments or sales outside of the United States.

The team narrows the investable universe to a list of companies with estimated future free cash flow margins, returns on capital employed, low revenue growth that are overpriced.

Next, the team ranks securities on the basis of characteristics such as quality, growth, valuation, capital returns and earnings revisions.

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 in a particular sector or sectors of the economy.

The fund seeks high total return 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 focuses on securities of foreign companies in a number of developed and emerging markets outside of the U.S.

The team defines foreign companies as companies that are organized under the laws of a foreign country, or whose principal trading market is in a foreign country.

Other factors in consideration would be companies that have a majority of their assets, or that derive a majority of their revenue or profits, from businesses, investments or sales outside of the United States.

The team narrows the investable universe to a list of companies with estimated future free cash flow margins, returns on capital employed, low revenue growth that are overpriced.

Next, the team ranks securities on the basis of characteristics such as quality, growth, valuation, capital returns and earnings revisions.

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 in a particular sector or sectors of the economy.

The fund seeks high total return 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 focuses on securities of foreign companies in a number of developed and emerging markets outside of the U.S.

The team defines foreign companies as companies that are organized under the laws of a foreign country, or whose principal trading market is in a foreign country.

Other factors in consideration would be companies that have a majority of their assets, or that derive a majority of their revenue or profits, from businesses, investments or sales outside of the United States.

The team narrows the investable universe to a list of companies with estimated future free cash flow margins, returns on capital employed, low revenue growth that are overpriced.

Next, the team ranks securities on the basis of characteristics such as quality, growth, valuation, capital returns and earnings revisions.

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 in a particular sector or sectors of the economy.

The fund seeks capital appreciation by investing in companies across any size 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 focuses on foreign securities, including emerging market securities.

The team favors companies exhibiting above average earnings growth potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team prefers companies with good fundamentals, superior management teams, and a durable competitive advantage.

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.

Also, the fund invests its assets across different industries, sectors, countries, and regions, but may invest a significant percentage of its net assets in issuers in a single industry, sector, country, or region.

The fund seeks capital appreciation by investing in companies across any size 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 focuses on foreign securities, including emerging market securities.

The team favors companies exhibiting above average earnings growth potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team prefers companies with good fundamentals, superior management teams, and a durable competitive advantage.

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.

Also, the fund invests its assets across different industries, sectors, countries, and regions, but may invest a significant percentage of its net assets in issuers in a single industry, sector, country, or region.

The fund seeks capital appreciation by investing in companies across any size 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 focuses on foreign securities, including emerging market securities.

The team favors companies exhibiting above average earnings growth potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team prefers companies with good fundamentals, superior management teams, and a durable competitive advantage.

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.

Also, the fund invests its assets across different industries, sectors, countries, and regions, but may invest a significant percentage of its net assets in issuers in a single industry, sector, country, or region.

The fund seeks capital appreciation by investing in companies across any size 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 focuses on foreign securities, including emerging market securities.

The team favors companies exhibiting above average earnings growth potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team prefers companies with good fundamentals, superior management teams, and a durable competitive advantage.

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.

Also, the fund invests its assets across different industries, sectors, countries, and regions, but may invest a significant percentage of its net assets in issuers in a single industry, sector, country, or region.

The fund seeks growth in the long term 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 focuses on stocks of companies domiciled outside the United States.

In selecting securities for the portfolio, the team selects countries or regions that exhibit positive economic trends, earnings outlook, liquidity within the market, fiscal & monetary policy, currency exchange rate expectations, investment valuation, market sentiment, and social & political trends.

Also, the team favors industries and sectors that exhibit above-average earnings growth prospects.

Within the selected industries and sectors, the team invests in foreign growth-oriented companies that exhibit the potential for superior growth.

In addition, the team evaluates companies on the basis of attributes such as unique product or service, growing product demand, dominant and growing market share, management experience and capabilities, and superior financial condition.

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 in stocks of issuers domiciled in at least three foreign countries.

Additionally, the fund may also invest in depository receipts, including American Depositary Receipts, European Depository Receipts and Global Depository Receipts.

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 focuses on stocks of established, non-U.S. companies.

The team emphasizes companies exhibiting durable above-average earnings growth over the long term.

In addition, the team favors companies that are trading at reasonable prices in relation to present or anticipated earnings, cash flow, or book value.

Additionally, the team favors companies with leading market positions, attractive business niche, attractive or improving franchise or industry position, and proven management teams.

The team also seeks companies with consistent or improving earnings and/or cash flow; and sound or improving balance sheet.

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 manager invests with an awareness of the global economic backdrop and the outlook for certain industries, sectors, and individual countries.

However, country allocation is driven largely by stock selection.

Also, the fund seeks to diversify broadly among developed and emerging countries throughout the world.

The fund normally invests in at least five countries.

The fund has the flexibility to invest across all market capitalizations, but typically focuses on larger companies.
 

The fund seeks capital appreciation in the long term by investing in companies across any size 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 focuses on companies domiciled outside the U.S. that demonstrate above-average growth, profitability and quality characteristics.

The team believes these companies exhibit superior business fundamentals, including market leadership, quality products or services, distinctive marketing and distribution, pricing flexibility and revenue from products or services consumed on a steady, recurring basis.

In addition, the team prefers companies with management teams aligned with shareholders’ interests and that utilize conservative accounting policies.

However, the team favors companies with above-average returns on equity, balance sheet strength and durable above-average earnings growth.

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 portfolio typically holds approximately between 40 and 70 securities.

The manager allocates the fund’s investments among at least six different countries.

Also, the manager has the flexibility to invest in well-established companies to smaller companies at earlier stages of development that are leaders in their country, industry or globally in terms of products, services or execution.

With regards to country allocation, the manager considers factors such as the conditions and growth potential of various economies and securities markets, currency exchange rates, technological developments in the various countries and other pertinent financial, social, national and political factors.

Additionally, no more than 50% of the fund’s holdings may be invested in securities of issuers in one country at any given time.

The fund’s investments will be divided among Continental Europe, the United Kingdom, Canada, Japan and the markets of the Pacific Basin.

Also, the fund may invest in emerging markets, which include every country in the world except the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore and most Western European countries.