The fund seeks capital appreciation by investing in companies in international markets.
The fund focuses primarily in developed regions of the world and secondarily in emerging markets. The fund starts with a list of companies in the benchmark index and then narrows the investable list to a smaller number that meet earnings, growth and return on equity criteria.
The research team then calculates intrinsic valuation for companies using qualitative analysis and future growth outlook. The team selects companies with attractive business models, proven track earnings record and trading at attractive discounts to intrinsic valuation.
The fund favors companies that are priced low in relation to their perceived long-term earnings power.
The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.
The multi-step investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify attractive investment opportunities.
Then the research team employs a proprietary expected returns model to rank the companies from most attractive to least attractive.
Next, the team narrows the investable universe to a list of companies that demonstrate an optimal balance between risk and estimated return.
Also, as part of its process, the team emphasizes companies that are estimated to trade below their fair values. The team believes companies may be undervalued due to market declines, poor economic conditions, actual or anticipated bad news regarding the issuer or its industry, or because it has been overlooked by the market.
In addition, the process also considers factors such as risk management, transaction costs, and liquidity management.
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.
Generally, the manager invests across different countries and geographic regions, but may invest a significant portion of assets in one country or region when consistent with the fund’s investment process.
The manager invests in securities of issuers from a minimum of three countries outside the United States.
The fund may invest in companies across all market capitalizations, including small-cap companies.
The fund seeks capital appreciation in the long term by investing in 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 calculates the estimated intrinsic value of a company on the basis of factors such as a company’s earnings, cash flow generation, and/or asset value of the underlying business.
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 may invest in companies located in at least three countries outside the United States.
The fund may invest up to 30% of its net assets in companies located in emerging markets including frontier markets.
Additionally, the fund may invest up to 5% of its net assets in any one company. From time to time, the fund may invest more than 20% of its net assets in any market sector, such as the financial sector.
The fund may invest in companies located around the world.
Also, the fund may invest from time to time in cash or short-term cash equivalent securities either as part of its overall investment strategy or for temporary defensive purposes in response to adverse market, economic, political or other conditions.
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 securities of foreign issuers, including non-dollar securities and securities of emerging market issuers.
The team relies on fundamental analysis to screen for companies that appear inexpensive on the basis of price, valuation and/or market expectations.
Additionally, the team focuses on companies that are estimated to trade below their fair values.
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 among a number of different sectors and countries throughout the world with no limit on the amount of assets that may be invested in any one sector or country.
Also, the fund may invest up to 25% of its net assets in issuers that conduct their principal business activities in emerging markets or whose securities are traded principally on exchanges in emerging markets.
In addition, based on market or economic conditions, the fund may focus in one or more sectors of the market.
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 non-U.S. issuers that offer attractive valuations.
According to the investment team, an issuer is said to be located in a country if it is organized under the laws of and its equity securities are principally traded in that country.
The team also considers an issuer that is domiciled or has its principal place of business located in and its equity securities are principally traded in that country.
Lastly, the team determines that the issuer has more than 50% of its assets in, or derives more than 50% of its revenues from, that country.
The team employs a proprietary quantitative investment analysis to identify companies generating high returns historically.
Then the team evaluates companies on the basis of valuation metrics such as dividends, cash-flow, earnings, sales and asset-based measures.
Additionally, the team narrows the investable universe to a list of high quality companies utilizing factors such as profitability, stability, financial strength, and management quality.
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 invests in a variety of countries throughout the world including emerging market countries and may, from time to time, invest more than 25% of its net assets in any one country or group of countries.
In addition, the fund does not generally invest in major thermal coal companies or with a high level of thermal coal reserves.
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 non-U.S. issuers that offer attractive valuations.
According to the investment team, an issuer is said to be located in a country if it is organized under the laws of and its equity securities are principally traded in that country.
The team also considers an issuer that is domiciled or has its principal place of business located in and its equity securities are principally traded in that country.
Lastly, the team determines that the issuer has more than 50% of its assets in, or derives more than 50% of its revenues from, that country.
The team employs a proprietary quantitative investment analysis to identify companies generating high returns historically.
Then the team evaluates companies on the basis of valuation metrics such as dividends, cash-flow, earnings, sales and asset-based measures.
Additionally, the team narrows the investable universe to a list of high quality companies utilizing factors such as profitability, stability, financial strength, and management quality.
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 invests in a variety of countries throughout the world including emerging market countries and may, from time to time, invest more than 25% of its net assets in any one country or group of countries.
In addition, the fund does not generally invest in major thermal coal companies or with a high level of thermal coal reserves.
The fund seeks a high level of total return 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 securities of international companies that are estimated to trade below their fair values.
According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with total return potential.
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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.
Also, the fund has the flexibility to invest without limitation in securities of companies that are organized or operated in emerging market countries.
The fund seeks to appreciate capital through investing in large- and mid-size companies around the world including the U.S.
The fund starts with a list of companies in the benchmark index Morgan Stanley EAFE (Europe, Australasia and Far East) Index and then narrows the list based on size, quality and growth of earnings and cash flow. The research team then looks at each company’s long term earnings prospects and business fundamentals for long term growth.
The investment team takes a long-term view of the investment horizon regardless of interim fluctuations.
The fund has the flexibility to invest in developed markets outside the U.S. but limits 10% in emerging markets and 20% in the U.S.
