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

The investment process is designed to highlight companies in the benchmark index which appear underpriced relative to their private market value and with near-term catalysts to unlock that value.

Next the research team is driven by fundamental analysis to focus on companies that are selling at a significant discount to their estimated private market value.

The team also considers factors such as price, earnings expectations, earnings and price histories, balance sheet characteristics, and perceived management skills.

In addition, the research team also looks at changes in economic and political outlooks as well as individual corporate developments.

Then the manager constructs a diversified portfolio of companies selling below their private market value favored by the research team and allocates capital based on its conviction level.

The fund may invest up to 25% of its total assets in securities of non-U.S. issuers.

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

The investment process is designed to highlight dividend-paying companies or companies that are well positioned to increase their dividend over the long term.

The process also focuses on identifying undervalued companies that may be out of favor for temporary reasons.

Next, the research team evaluates a company on factors such as market price of the issuer’s securities, earnings expectations, dividend paying and earnings and price histories, balance sheet characteristics, and perceived management skills.

The team also considers changes in economic and political outlooks as well as individual corporate developments.

The fund has the flexibility to invest up to 40% of its net assets in securities of foreign issuers.

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

The investment process is using proprietary research methodology to identify companies that have potential for long term earnings per share growth. The process looks for well-managed and strong companies with growing cash flow.

The research team favors companies with the presence of near-term catalysts such as industry developments, regulatory changes, changes in management, sale or spin-off of a division, or the development of a profitable new business.

Next, the team narrows the investable universe to companies that exhibit revenue and earnings growth as a result of changes in management or similar characteristics.

The portfolio comprises 25 to 35 companies of all market capitalization, with the ability to allocate up to 50% of the portfolio in the five largest positions.

The fund also has the flexibility to invest in all market capitalizations.

The fund seeks primarily capital appreciation and secondarily current income by investing in companies in 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.

The process is designed to highlight companies that invest in the telecommunications, media and information technology industries.

Next, the research team looks for companies that are estimated to trade below their fair values.

The team also considers companies that exhibit attributes such as accelerated growth in revenues and earnings and the potential for above average capital appreciation, while retaining at least 25% of its net assets in the telecommunications-related industry.

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 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 securities of companies principally engaged in the group of industries comprising the financial services sector.

The team considers a company to be principally engaged in the group of industries comprising the financial services sector if it devotes a significant portion of its assets to, or derives a significant portion of its revenues from, providing financial services.

Such services include commercial, consumer, and specialized banking and financing, asset management, publicly-traded, government sponsored financial enterprises, insurance, and accountancy.

Other services may include mortgage REITs, brokerage, securities exchanges and electronic trading platforms, financial data, technology, and analysis, and financial transaction and other financial processing services.

The team favors companies that are trading at discounts to their estimate of private market value.

In addition, the team prefers well-managed companies with financial strength.

The team also considers factors such as price, earnings estimations, track record of earnings and price, balance sheet characteristics, and perceived management skills.

As part of the process, the team considers changes in economic and political outlooks as well as individual corporate developments.

Further, the team seeks to identify the presence of a near-term catalyst, such as industry developments, regulatory changes, changes in management, sale or spin-off of a division, or the development of a profitable new 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.

As a fundamental policy, the fund may invest at least 25% of its net assets in the securities of companies principally engaged in the group of industries comprising the financial services sector.

Also, the fund invests in securities of issuers, or related investments thereof, located in at least three countries.

The fund may invest in issuers in foreign countries, including countries with developed or emerging markets.

Additionally, the fund invests at least 40% of its total net assets in securities of non-U.S. issuers or related investments thereof.

The fund may invest in non-U.S. equity securities through depositary receipts, including American Depositary Receipts, European Depositary Receipts, Global Depositary Receipts and other similar global instruments.

The fund seeks a high level of total return 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 focuses on stocks of foreign and domestic issuers that are likely to pay dividends and income and have the potential for above average capital appreciation and dividend increases.

To this end, the team may invest in stocks that pay and increase dividends over time that can potentially provide rising income.

Additionally, the team favors companies that are trading at significant discounts to their estimate of private market value.

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 at least three countries, including the United States, and will invest at least 40% of its net assets in countries other than the United States.

In addition, the fund may also utilize arbitrage strategies by investing in event-driven situations such as announced mergers, acquisitions, and reorganizations.

The fund also may invest up to 25% of its net assets in non-convertible fixed income securities that are below investment grade, including up to 5% of its assets in non-convertible fixed income securities of issuers that are in default.

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 focuses on securities of foreign and domestic issuers principally engaged in gold related activities and gold bullion.

In selecting securities for the portfolio, the research team focuses on companies that are estimated to trade below their fair values demonstrating growth prospects.

Other factors in considered include capitalization per ounce of gold production, capitalization per ounce of recoverable reserves, quality of management, and the issuer’s ability to create shareholder wealth.

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 estimates that a significant portion of its net assets may be invested in securities of foreign issuers, including those located in emerging markets.
 

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 focuses on securities of foreign issuers located in at least three countries outside the United States.

The team prefers companies demonstrating accelerated revenues and earnings growth and potential for above-average capital appreciation.

In addition, the team emphasizes companies that have the potential to grow faster than other companies in their respective stock exchanges trading at attractive 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 fund diversifies its investments across different countries by investing in the securities of companies located in developed countries and in emerging markets.

The fund seeks primarily capital appreciation and secondarily current income by investing in small-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 non-U.S. companies.

In determining whether an issuer is a U.S. or non-U.S. Company, the team considers its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency.

When selecting securities for the portfolio, the team favors companies with a dominant market share or niche franchise in growing and/or consolidating industries.

In addition, the team looks for companies with proven management teams, balance sheet strength, and increasing free cash flow and earnings.

The research team emphasizes companies trading at reasonable market valuations relative to perceived economic worth.

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 non-U.S. markets throughout the world, including emerging markets.

Also, the fund will invest in the securities of issuers located in at least five countries outside the U.S. There are no geographic limits on the fund’s non-U.S. investments.
 

The fund seeks a high level of capital appreciation in the long term by investing in small-size companies in 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 that demonstrate accelerated revenue growth and above average rates of earnings growth.

When selecting securities for the portfolio, the team favors companies with a dominant market share or niche franchise in growing and/or consolidating industries.

In addition, the team looks for companies with proven management teams, balance sheet strength, and increasing free cash flow and earnings.

The research team emphasizes companies trading at reasonable market valuations relative to perceived economic worth.

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 seeks capital appreciation in the long term by investing in companies across any size in the United States.

The investment process is designed to highlight companies in the benchmark index that are estimated to trade below their fair values with capital appreciation potential.

Next the research team focuses on companies that are selling at a significant discount to their estimated private market value, and with near-term catalysts to unlock that value.

The team also considers factors such as a company’s stock price, balance sheet strength and the perceived management skills.

Then the manager constructs a portfolio from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager overweights its top twenty-five positions.

Additionally, the fund may invest up to 25% of its net assets in securities of non-U.S. issuers, including issuers in emerging markets.

The fund may invest up to 50% of its net assets in securities for which a tender or exchange offer has been made or announced and in securities of companies for which a merger, consolidation, liquidation, or similar reorganization proposal has been announced.

The fund seeks primarily capital appreciation and secondarily current income 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 securities of foreign and domestic issuers.

The team favors companies that demonstrate accelerated revenues and earnings growth and potential for above average capital appreciation.

In addition, the team considers companies that are estimated to trade below their fair values.

In selecting securities for the portfolio, the research team focuses on stocks that are attractively priced relative to their projected growth rates.

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 securities of issuers, or related investments thereof, located in at least three countries.

Also, the fund invests at least 40% of its net assets in securities of non-U.S. issuers or related investments thereof.

In addition, the portfolio is diversified by geographic region, industry sectors and individual issues within industry sectors.

The fund invests primarily in developed markets but may invest in emerging markets as well.

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

The investment process is designed to highlight companies that are estimated to be lagging in market valuation to their earnings and capital growth potential.

Next, the research team looks for companies poised for durable market share gains in secular growth industries.

In addition, the team also focuses on companies demonstrating expanding market shares, profit margins, and returns on equity.

The manager seeks companies with high future earnings potential relative to their current market valuations.

The fund has the flexibility to invest in domestic and foreign issuers and may invest up to 25% of its total assets in securities of non-U.S. issuers.