The fund seeks capital appreciation in the long term by investing in large-size companies in the United States.
The sub-advisor’s investment process is designed to highlight companies that have above-average earnings and cash flow growth.
Next, the research team identifies companies that have a profitable niche in the economy resulting in consistent earnings momentum even during periods of economic slowdown.
The fund has the flexibility to buy companies that do not meet its normal investment criteria if it believes that a management change, an extraordinary corporate event, a new product introduction or innovation, or a favorable competitive development could add value to the company.
The fund may at times invest significantly in certain sectors, such as the technology sector.
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 companies based in developed markets outside the United States as well as in established companies in emerging and frontier markets.
Then the team favors well-managed companies with financial strength, and that are fast growing and very competitive in the marketplace.
Additionally, the team looks for companies that are trading at a discount to their estimated intrinsic 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 seeks to be diversified across dimensions of geography, industry, currency and market capitalization, in an effort to reduce its volatility.
Generally, the fund holds investments across at least 10 countries.
Also, the fund may invest in securities of U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations.
The fund seeks 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 are estimated to trade below their fair values.
The team also considers a company’s potential earning power, financial ratios and competitive advantages.
In selecting securities for the portfolio, the research team also includes an analysis of new market opportunities for a company, which could indicate earnings growth potential over the long term.
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 up to 20% of its net assets in short-term debt securities; money market securities; other investment companies, including open-end funds, closed-end funds and exchange-traded funds.
Additionally, the fund’s 20% investment may include investing in U.S. dollar-denominated securities of foreign issuers; and investment-grade debt securities convertible into or exchangeable for common stocks.
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 driven by fundamental research to focus on companies that are trading at a discount to their estimated intrinsic value and focuses on a narrow list of companies included in the benchmark.
Then, the research team analyzes the company's potential earning power, financial ratios and competitive advantages to determine its investment merits.
The team favors companies that are trading at discounts to their underlying values but not reflected in their current market prices.
Next, the manager constructs a portfolio of stocks that are offering best risk reward ratios and allocates capital across holdings in different industries.
The fund may invest up to 20% of its net assets in preferred stocks, investment-grade debt securities convertible into or exchangeable for common stocks and warrants, debt securities, and money market securities.
The fund may also invest in American Depositary Receipts, emerging market securities and securities denominated in foreign currencies, including the local currencies of emerging markets.
