The fund seeks primarily current income and secondarily capital appreciation in the long term by investing in companies in the United States.

The fund manages assets with the help of three sub-advisers namely Federated Equity Management Company of Pennsylvania, Neuberger Berman Investment Advisers LLC, and NWQ Investment Management Company, LLC.

The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.

The sub-advisers’ 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 dividend-paying equity securities of both U.S.-based and foreign companies.

In selecting securities for the portfolio, the research team focuses on companies that are attractively valued and have the potential for long-term 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.

Additionally, the fund typically will invest in foreign securities, including securities of issuers located in emerging markets, which often are denominated in currencies other than U.S. dollars.

The fund may also invest a portion of its net assets in shares of one or more exchange-traded funds.

Also, the fund may lend portfolio securities in an attempt to earn additional income.
 

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 with the aim of reducing volatility and downside risk.

The fund manages assets with the help of four sub-advisers. The sub-advisers are BAMCO, Inc., MFS Investment Management, T. Rowe Price Associates, Inc., and Wasatch Advisors, Inc.

The fund’s assets are allocated between sub-advisers and exchange-traded funds.

The sub-advisers’ 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 employs a number of different investment approaches when making investment decisions.

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 may invest in securities of foreign issuers, including emerging market and frontier market equity securities.

Generally, at least 40% of the fund’s net assets will be invested in the securities of companies that are tied economically to at least three countries outside the U.S.

The fund may also lend portfolio securities to earn additional income.
 

The fund seeks capital appreciation in the long term by investing in large-size companies in the United States.

The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk and is currently managed by six sub- advisers.

The sub-advisers are BlackRock Investment Management, LLC, Columbia Management Investment Advisers, LLC, Delaware Investments Fund Advisers, Mellon Investments Corporation, Strategas Asset Management, LLC, and T. Rowe Price Associates, Inc.

The fund’s assets are allocated between exchange-traded funds and sub-advisers.

BlackRock’s process seeks to replicate the performance of the benchmark index.

Columbia has an investment process designed to highlight companies that are gaining market share in industries.

Delaware focuses on identifying discrepancies between estimated intrinsic value and price.

Mellon looks for companies with attractive valuation, strong fundamentals and a catalyst for business improvement.

Strategas focuses on companies making significant investments in public policy developments and the potential earning benefits that accrue from those investments.

T. Rowe Price focuses on companies with superior growth in earnings and cash flow, ability to sustain earnings momentum, and ability to expand even during times of slow economic growth.

The fund has the flexibility to invest its net assets in securities of foreign issuers and may lend securities to earn income.

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 invests in real assets and securities of companies that derive at least 50% of their profits or revenues from, or commit at least 50% of assets to, real assets and activities related to real assets.

Real assets include any assets that have physical properties, such as energy and natural resources, real estate, basic materials, equipment, utilities and infrastructure, and commodities.

The fund allocates its assets among categories such as domestic and international real estate and securities of companies tied to the real estate industry, utilities and infrastructure, natural resources and commodities, and master limited partnerships).

Also, the fund will invest at least 25% of its net assets in the securities of issuers conducting their principal business activities in the energy and other natural resources groups of industries.

The investment team considers a company to be principally engaged in natural resources industries if the company has the potential for capital appreciation primarily as a result of particular products, technology, patents or other market advantages in natural resource industries.

A portion of the fund’s net assets may also be invested in securities of companies that own, explore, mine, process or otherwise develop natural resources, or supply goods and services to such companies.

The fund may employ a multi-manager investing approach with the aim of reducing volatility and downside risk.

The fund manages assets with the help of sub-advisers, each of which would be responsible for investing its allocated portion of the fund’s assets.

Regardless of whether a multi-manager strategy is employed, the manager will invest all or a portion of the fund’s net assets in shares of one or more exchange-traded funds.

The fund’s assets are allocated between exchange-traded funds and sub-advisers, who may invest the fund’s net assets in securities of issuers located anywhere in the world.

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 also at times hold a substantial portion of its assets in cash or cash equivalents.

Additionally, the fund may lend portfolio securities to earn additional income.

The fund is non-diversified and estimates to hold a larger portion of its assets in a smaller number of issuers.
 

The fund seeks capital appreciation in the long term by investing in small- and mid-size companies in the United States.

The fund manages assets by hiring sub-advisers and currently works with three. The fund prefers a multi-manager investing approach to reduce volatility and downside risk.

Ceredex Value Advisors LLC, the sub-adviser employs a bottom-up stock selection process with an emphasis on dividends, valuation and fundamentals.

Driehaus Capital Management LLC, the sub-adviser focuses on micro and small cap companies with company-specific growth inflection points.

LMCG Investments, LLC, the sub-adviser favors high quality companies that are trading at a discount to their intrinsic value.