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

The investment process is designed to identify companies exhibiting earnings or revenue growth potential. The strategy strives to find dynamic and durable American companies growing faster than the economy.

Next, the research team examines company fundamentals, including detailed modeling of a company’s financial statements and discussions with company management teams, suppliers, distributors, competitors, and customers.

In addition, the team uses valuation techniques to assess the industry in which the company operates, and the stage of the company’s business cycle.

The manager focuses on companies with attractive growth outlooks at compelling valuations and looks to capture alpha (excess return to its benchmark).

The fund may invest up to 20% of its net assets in securities of foreign issuers.

The fund seeks capital appreciation in the long term by investing in mid-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 invests in securities of U.S. issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team prefers attractively-valued companies experiencing a change.

In selecting securities for the portfolio, the team looks for catalysts for change that may positively impact a company, such as improved operational efficiency, new management, an industry development or regulatory change.

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 real estate investment trusts.

Also, the fund may invest up to 20% of its net assets in securities of foreign issuers and depositary receipts.

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 securities of issuers in the Asia Pacific region (except Japanese issuers), and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in the Asia Pacific region if it is organized under the laws of a country in the Asia Pacific region, or it has a principal office in a country in the Asia Pacific region.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in the Asia Pacific region, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in the Asia Pacific region.

Then the team favors quality growth 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 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 fund may invest up to 100% of its net assets in foreign securities, including securities of issuers located in emerging markets countries.

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

Also, the fund has the flexibility to invest across all market capitalizations, and may invest a significant amount of its net assets in the securities of small- and mid-capitalization issuers.

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 exhibiting above-average growth prospects that are trading at attractive valuations.

The research team looks for competitively advantaged companies that have high or improving return on invested capital, and quality management teams.

In addition, the team uses fundamental analysis to evaluate a company’s financial strength, industry position, business model, industry outlook, market trends and general economic conditions.

Next the team uses quantitative models to rank securities within each sector to identify potential buy and sell candidates.

The portfolio is broadly diversified across major economic sectors, and comprises of both growth and value stocks. The portfolio holds cash and cash equivalents to help minimize loss of capital and reduce excessive volatility.

The fund also may invest in derivatives such as futures contracts and forward foreign currency contracts in order to equitize cash to gain exposure to the broad market. The fund may invest up to 25% of its net assets in securities of foreign issuers.

The fund seeks total return by investing in companies across any size in the United States.

The investment process employs a value investing style to look for undervalued companies with the presence of near-term catalysts that can drive stock price appreciation.

Then the research team looks to take advantage of significant discrepancies between the current stock market price and the underlying value of a company.

Generally, the fund manager constructs a portfolio of well-established large-size companies demonstrating potential for capital growth and income from the select list recommended by the research team.

The fund may invest up to 10% of its net assets in real estate investment trusts, and up to 25% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

The fund can invest in derivative instruments including forward foreign currency contracts and futures contracts.

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

The investment process employs a value investing style to look for undervalued companies with the presence of near-term catalysts that can drive stock price appreciation.

The strategy typically invests primarily in large company value stocks but may invest in securities of issuers of any market capitalization.

Generally, the fund manager constructs a portfolio of well-established large-size companies demonstrating potential for capital growth and income from the select list recommended by the research team.

The fund may invest up to 25% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

The fund can invest in derivative instruments including forward foreign currency contracts and futures contracts.

The manager has the flexibility to shift up to 10% of the fund’s net assets into debt securities if market conditions suggest that debt securities may offer better growth opportunities than stocks.

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 invests in stocks of issuers in developing and emerging markets throughout the world.

The team focuses on securities of issuers whose principal activities are in a developing market, i.e. are in a developing market or are economically tied to a developing market country.

The team considers an issuer to be economically tied to a developing market country based on factors such as geographic location of its primary trading markets, location of its assets, its domicile or its principal offices, or whether it receives revenues from a developing market.

Additionally, the team focuses on 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 focuses on a company’s financial statements, management record, and capital structure, operations, product development, and competitive position in its industry.

The team also looks for newer or established businesses that are entering into a growth cycle, have the potential for accelerating earnings growth or cash flow, and are trading at reasonable valuations.

In addition, the team focuses on companies that may benefit from the effect of worldwide trends.

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.

Also, the fund will invest in at least three developing markets.

Additionally, the fund may invest directly in certain eligible China A Shares through Stock Connect.

The fund may at times invest up to 100% of its net assets in foreign securities.
 

The fund seeks capital appreciation 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 invests in companies that demonstrate favorable growth prospects.

In addition, the team favors companies with high growth potential.

As part of the process, the team emphasizes a company’s financial statements and management structure.

The team also takes into consideration the company’s operations and product development, as well as its position in its industry.

Also, the team favors companies with proven management records that are able to handle rapid growth, companies with innovative products or services.

The team also prefers companies that have above average growth profiles and durable 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 manager also evaluates research on particular industries, market trends and general economic conditions.
 

The fund seeks primarily capital appreciation in the long term 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.

Next, the research team invests in dividend-paying equity securities that are estimated to trade below their fair values.

In selecting securities for the portfolio, the research team focuses on companies with excellent profitability, solid balance sheets and capital allocation policies that support sustained or increasing dividends and share repurchases.

When evaluating cyclical businesses, the team favors companies that have normalized earnings power greater than that implied by their current market valuation.

In addition, the team prefers companies that return capital to shareholders via dividends and share repurchases.

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 25% of its net assets in securities of foreign issuers.

The fund seeks current income and capital appreciation in the long term by investing in companies across any size 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 invests in dividend-paying equity securities and in other instruments that have economic characteristics similar to such securities.

In selecting securities for the portfolio, the research team focuses on companies with above-market yielding stocks, and financial strength.

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 25% of its net assets in foreign securities.

Although the fund may invest in companies of any size, the fund prefers large capitalization issuers.
 

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 invests in stocks of issuers in emerging and developing markets throughout the world.

The team may also invest in frontier market countries.

In addition, the team focuses on securities of issuers that are economically tied to an emerging market country, and in derivatives and other instruments that have economic characteristics similar to such securities.

Also, the team considers an issuer to be economically tied to a emerging market country based on factors such as geographic location of its primary trading markets, location of its assets, its domicile or its principal offices, or whether it receives revenues or profits from goods produced or sold from, or investments made or services performed in, an emerging or developing market.

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 a company’s financial statements, management record, and capital structure, operations, product development, and competitive position in its industry.

The team also looks for newer or established businesses that are entering into a growth cycle, have the potential for accelerating earnings growth or cash flow.

In addition, the team focuses on companies that may benefit from the effect of worldwide trends.

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 takes a broad view that stretches across industries, sectors, companies and a company’s operational functions, when considering whether a company is deemed to be innovative.

Also, the fund will invest in at least three emerging market countries.

At times, the fund may invest up to 100% of its net assets in securities of issuers in emerging and developing markets.

Additionally, the fund may invest directly in certain eligible China A Shares through Stock Connect.

The fund generally has greater exposure to small-and mid-sized companies.

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 securities of issuers in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles, and in other instruments that have economic characteristics similar to such securities.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team assesses the quality and value of individual companies.

In addition, the team favors companies that meet strict business quality criteria and standards of management quality.

Also, the team prefers companies that are attractively priced relative to their intrinsic value.

As part of the process, the team reviews a company’s financial information, competitive position and its future prospects.

The team may also meet with the company’s management and take into account general industry and economic trends.

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 may invest up to 100% of its net assets in foreign securities, including securities of issuers located in emerging markets countries.

Also, the fund may invest in China A-shares.

The fund invests primarily in the securities of large-capitalization issuers and may invest a significant amount of its net assets in the securities of small- and mid-capitalization issuers.

The fund is non-diversified, which means it can invest a greater percentage of its net assets in a small group of issuers or any one issuer than a diversified fund can.

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 engaged in energy-related industries.

The investment team considers companies in energy-related industries to include oil companies, oil and gas exploration companies, natural gas pipeline companies, refinery companies, energy conservation companies, coal companies, alternative energy companies and innovative energy technology companies.

Then the research process is driven by fundamental analysis of one stock at a time. The research team focuses on companies operated by proven management teams and superior assets trading at attractive valuations.

The research team emphasizes on valuation and risk/reward profiles of potential investments.

In evaluating companies, the team relies on valuation multiples such as cash flow, net asset value, and earnings.

As part of its top-down macroeconomic research, the research team assesses factors such as worldwide economic activity, government policy, employment, inflation, supply/demand dynamics, currency market dynamics, international trade, technological advances.

Other factors include business, equity and credit market cycle analysis.

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 generally invests among the three main energy sub-industries, such as integrated oil and gas issuers, oil and gas equipment and services issuers, and oil and gas exploration/production issuers.

The portfolio holds a more limited number of securities than other comparable funds.

The fund has the flexibility to invest in derivative instruments, including forward foreign currency contracts.

The fund may invest up to 100% of its net assets in securities of foreign issuers doing business in energy-related industries, which may include securities of issuers located in emerging markets countries.

The fund seeks high level of total return by investing in mega-and large-size companies in the United States.

The sub-advisor’s investment process is designed to highlight companies in the benchmark index that demonstrate capital appreciation and current income potential.

Next the research team allocates it assets evenly among the constituents of the S&P 500 Equal Weight Index.

Additionally, the team seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

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

The fund has the flexibility to invest in derivative instruments including futures contracts.

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 securities of European issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in Europe if it is organized under the laws of a country in Europe, or it has a principal office in a country in Europe.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in Europe, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in Europe.

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 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 fund may invest up to 100% of its net assets in foreign securities, including up to 35% of its net assets in securities of European issuers located in emerging markets countries.

Also, the fund has the flexibility to invest across all market capitalizations, and may invest a significant amount of its net assets in the securities of small- and mid-capitalization issuers.

The fund seeks capital appreciation in the long term 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 securities of European issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in Europe if it is organized under the laws of a country in Europe, or has a principal office in a country in Europe.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in Europe, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in Europe.

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 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 fund may invest up to 35% of its net assets in securities of European issuers located in emerging markets countries.

Also, the fund may at times invest a significant amount of its net assets in cash and cash equivalents, including money market funds.

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 invests in equity securities, depositary receipts, and in derivatives and other instruments that have economic characteristics similar to such securities.

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 companies that have durable competitive advantages and provide opportunities for long-term growth.

In addition; the team focuses on companies with proven management teams that allocate capital prudently.

The team also considers companies that are attractively priced relative to their estimated intrinsic value.

As part of the process, the team reviews a company’s financial information, competitive position and its future prospects.

The team may also meet with the company’s management and take into account general industry and economic trends.

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 fund will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in China A shares.

The fund has the flexibility to invest across all market capitalizations, but will generally invest significantly in large capitalization companies.

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 invests in securities of U.S. and foreign companies.

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

The team also favors companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

In addition, the team prefers value and growth companies.

Growth companies are companies whose earnings and stock prices are estimated to increase at a faster rate than the overall market.

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 between 35 and 55 stocks.

The fund can invest without limit in foreign securities in any country, including countries with developed or emerging markets.

Typically, the fund will invest a substantial portion of its net assets in issuers in a number of different foreign countries.

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 invests in securities of U.S. and foreign companies.

The team favors quality companies exhibiting durable growth characteristics.

Also, the team seeks to identify secular changes in the world that it believes will drive global growth for the next decade. These large scale structural themes are referred to collectively as MANTRA, namely Mass Affluence, New Technology, Restructuring, and Aging.

In addition, the economic characteristics that the team focuses on are high return on invested capital, good cash flow characteristics, high barriers to entry, dominant market share, a superior competitive position, talented management, and balance sheet strength.

The team also considers how industry dynamics, market trends, and general economic conditions may affect a company’s earnings outlook.

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 will invest in at least three countries (one of which may be the United States).

However, the fund can invest without limit in foreign securities in any country, including countries with developed or emerging markets.

Although the fund has the flexibility to invest across market capitalizations, it primarily invests in mid- and large-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 invests in equity securities and depositary receipts of domestic and foreign issuers.

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 fund will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in China A shares.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund seeks 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 invests in equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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 invests in securities of U.S. and foreign companies, and estimates some of those securities to pay dividends.

In addition, the team prefers companies that will gain a greater share of global GDP and have long-term economic drivers that serve as tailwinds for enduring growth.

Also, the team categorizes these structural themes as MANTRA, namely Mass Affluence, New Technology, Restructuring and Aging.

Sub-themes are concentrated in 21st century industries and favor intellectual property-based areas of the market.

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 companies that have above-average earnings potential due to innovative, unique product offerings, typically protected by a patent, that are trading at discounts to their long-term growth potential.

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 number of different countries and can invest in any country, including countries with developing or emerging markets. However, the fund will invest in at least four countries, including the United States.

Additionally, the fund may also invest in securities of issuers in special situations such as mergers, reorganizations, and restructurings.

Also, the fund may invest in debt securities and may invest up to 25% of its net assets in below-investment-grade securities.

Although the fund has the flexibility to invest across market capitalizations, it primarily invests in small-and mid-sized companies.

The fund seeks 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 invests in securities of real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The fund considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate.

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.

When constructing the portfolio, the manager evaluates factors such as property market cycle analysis, property evaluation and management and structure review.

The manager then prefers securities having quality underlying properties, capable management teams, and attractive valuations.

Other factors in consideration include cash flow consistency and growth, dividend yield, dividend coverage and growth, and cash flow and assets to price multiples.

The fund will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in China A shares, and may also invest in debt securities of domestic and foreign issuers.

Additionally, the fund may invest up to 10% of its net assets in non-investment grade debt securities of real estate and real estate-related issuers.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts.

The fund seeks primarily current income and secondarily capital appreciation 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 invests in the securities of real estate and real estate-related issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The fund considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate.

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.

When constructing the portfolio, the manager evaluates factors such as property market cycle analysis, property evaluation and management and structure review.

The manager then prefers securities having attractive relative yields and valuations, as well as favorable property market outlook.

The fund will invest in companies economically tied to at least three different countries, including the U.S.

Additionally, the fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may invest up to 30% of its net assets in below-investment grade securities of real estate and real estate related issuers.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts.

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 invests in securities of companies that are involved in mining, processing or dealing in gold or other metals or minerals, gold bullion, other physical metals, and precious metals-related ETFs and may invest all of its assets in those securities.

Also, the team invests in those securities, and in derivatives and other instruments that have economic characteristics similar to such securities.

Then the team relies on a proprietary model that is designed to assess a company’s financial statements and management structure, as well as the company’s operations and new developments.

The team considers the growth potential and the valuations of the stocks of particular companies, and ranks the companies that have been reviewed by the model.

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 gold or silver bullion, in other precious metals, in metals naturally occurring with precious metals, in certificates representing an ownership interest in those metals, and in gold or silver coins.

Also, the fund may invest in U.S. or foreign companies, including companies in developing or emerging markets, i.e., those that are generally in the early stages of their industrial cycles.

The fund has no limit on its foreign investments.

The fund can also invest up to 25% of its net assets in the Subsidiary. Furthermore, the Subsidiary will invest in gold bullion and other precious metals, 

The fund seeks capital appreciation in the long term by investing in companies located or operating in Greater China.

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.

The investment team considers the Greater China region to include mainland China, Hong Kong, Macau and Taiwan.

Next, the research team emphasizes companies and other entities having their registered office in Greater China, or companies and other entities located outside Greater China carrying out their business activities principally in Greater China, or holding companies, the interests of which are principally invested in subsidiary companies with a registered office in Greater China.

Then the team focuses on undervalued companies exhibiting durable leadership positions and competitive advantages.

In the security selection process, the team considers factors such as valuation, management/franchise value determination, and 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.

Additionally, the fund invests in China A-shares.

The fund invests across all market capitalizations, but may hold a significant amount of its net assets in the securities of small- and mid-capitalization issuers.

The fund may invest up to 100% of its net assets in foreign securities, including securities of issuers located in emerging markets countries.

The fund seeks total return 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.

Next, the research team invests in income-producing equity securities, which include common stocks and convertible securities.

The team favors companies that are estimated to trade below their fair values.

In selecting securities for the portfolio, the research team focuses on companies with the presence of near-term catalysts that may positively impact a company, such as new management, industry development or regulatory change.

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 15% of its net assets in real estate investment trusts.

Also, the fund may invest up to 25% of its net assets in securities of foreign issuers, which may include depositary receipts.

Additionally, the fund can invest in derivative instruments including forward foreign currency contracts, futures contracts and options.

Although the fund may invest in companies of any size, the fund prefers large cap issuers.

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 securities of issuers engaged primarily in health care-related industries, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer to be engaged in health care-related industries, if it derives50% or more of its gross income or its net sales from activities in the healthcare industry, or it devotes 50% or more of its assets to producing revenues from the health care industry.

Also, the team considers companies whose primary business is within the health care industry.

Issuers engaged in healthcare-related industries include those that design, manufacture, or sell products or services used for or in connection with health care or medicine.

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 companies exhibiting attractive growth prospects relative to their current valuations.

Additionally, the team seeks to identify companies whose future growth prospects are not yet recognized by investors.

In analyzing specific industries, the team emphasizes companies with above-average growth and demand; below-average reimbursement risk; and high barriers to entry.

However, in analyzing specific issuers, the team looks for leading issuers with defensible franchises, niche-oriented products and/or services, potential to expand margins and improve profitability, superior earnings-per-share growth, balance sheet strength, and a capable management team.

Also, the team prefers companies that are trading at attractive valuations relative to valuation multiples.

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 securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund seeks income and capital appreciation in the long term 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.

Next, the research team invests in a diversified portfolio of equity securities and equity-linked notes designed to generate high income.

For the equity portion of the portfolio, the team evaluates companies on the basis of factors such as momentum, value, quality and low volatility.

The team also seeks to construct a portion of the fund’s portfolio in high-income, short-term ELNs with a focus on downside protection (the ELN portfolio).

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.

In addition, the fund may hold up to 25% of its net assets in cash or cash equivalents, including treasury bills and money market funds.

The fund may also invest in real estate investment trusts.

Additionally, the fund will invest in equity-linked notes that reference either a broad-based equity security index or an exchange-traded fund that passively tracks such an index.

The fund can invest in derivative instruments including futures contracts.

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 securities and depositary receipts of foreign issuers.

The team then prefers companies that have high or improving return on invested capital, superior management team and competitive position relative to peers and that are 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.

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 invest up to 100% of its net assets in foreign securities.

Additionally, the fund has the flexibility to invest up to 20% of its net assets insecurities of issuers located in emerging markets countries.

Also, the fund invests across all market capitalizations, however a substantial number of the issuers in which it invests are large-capitalization issuers.

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 invests in foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.

The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.

Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.

The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.

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 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 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 companies that are trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their 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 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 in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

Furthermore, the fund is non-diversified, which means it can invest a greater percentage of its net assets in a small group of issuers or any one issuer than a diversified fund can.

The fund seeks capital appreciation in the long term 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 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 fund may invest up to 35% of its net assets in securities of European issuers located in emerging markets countries.

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.

Also, the fund may at times invest a significant amount of its net assets in cash and cash equivalents, including money market funds.

The fund seeks capital appreciation 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 invests in securities of foreign companies.

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 a company’s financial statements and management record and structure.

Additionally, the team considers a company’s operations, product development and industry competitive position.

In addition, the team prefers companies with conservatively-capitalized balance sheets, high and consistent internal rates of return, and a favorable market position within healthy and growing industries.

The team also considers the effect of worldwide trends on the growth of particular business sectors and looks for companies that may benefit from those trends.

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 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.

Then the research team relies on a fundamental approach to analyze a company’s financial performance, strength and prospects, industry position, and business model and management strength.

The team also considers other factors such as industry outlook, market trends and general economic conditions.

Next, the team ranks securities within each sector to identify potential buy candidates for further fundamental analysis.

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

The fund aims to maintain a diversified portfolio across major economic sectors and the portfolio also includes both growth and value stocks.

The fund may also invest in securities of foreign issuers.

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

The investment process uses fundamental analysis to assess a company’s financial performance, company strength and prospects, industry position, and business model and management strength.

The process also considers industry outlook, market trends, and general economic conditions.

The portfolio is broadly diversified across major economic sectors in terms of both sector and position size. The adviser uses quantitative models to rank securities within each sector to identify potential buy and sell candidates for further fundamental analysis.

The portfolio is comprised of both growth and value stocks.

The fund has the flexibility to invest across any market capitalization.

The fund seeks capital appreciation 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 invests in securities of small-cap companies, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team then ranks securities within each sector to identify potential investment candidates.

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 companies that exhibit the potential to outperform their industry and sector peers.

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 has the flexibility to invest insecurities issued by companies or governments in any country.
 

The fund seeks capital appreciation in the long term by investing in companies 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 invests in the securities of represented in the MSCI World SRI Index (the Underlying Index) and in derivatives and other instruments that have economic characteristics similar to such securities.

The Underlying Index includes common stocks of large- and mid-capitalization companies from 23 developed market countries, including the U.S.

In addition, the team employs a sampling methodology wherein the fund seeks to replicate the composition of the Underlying Index, holding each security in approximately the same proportion as its weighting in the Underlying Index.

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 can utilize exchange-traded futures contracts, including index futures, to gain exposure to equity securities represented in the Underlying Index while managing cash balances.

In seeking to track the Underlying Index, the fund may from time to time have significant exposure to a particular sector.

The Underlying Index excludes companies if they have any tie to controversial weapons, are manufacturers or producers of civilian firearms, nuclear weapons, or tobacco;.

Also, the Underlying Index excludes companies that generate revenues from alcohol, adult entertainment, conventional weapons, gambling, genetically modified organisms, nuclear power, fossil fuel extraction, or thermal coal power that exceed the business involvement thresholds determined by MSCI, or that have evidence of ownership of fossil fuel reserves.

The fund seeks capital appreciation 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.

The process employs a fund of funds strategy, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds invest in companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets.

The fund will invest in shares of Invesco Oppenheimer Developing Markets Fund, Invesco Oppenheimer International Growth Fund, Invesco Oppenheimer International Small-Mid Company Fund, and Invesco Oppenheimer International Equity Fund.

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 will typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund,

From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region.

Also, the fund may hold a portion of its net assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Invesco family of funds.

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 invests in companies that exhibit growth characteristics.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

Also, the team prefers companies with a superior competitive position and high demand for their products or services, as well as accelerating earnings growth and cash flow.

The team also considers the effect of worldwide trends on the growth of particular business sectors and looks for companies that may benefit from those trends.

The trends currently considered include mass affluence, new technologies, restructuring and aging.

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 aims for diversity among companies, industries and countries to help reduce the risks of foreign investing, such as currency fluctuations and stock market volatility.

The fund may invest 100% of its net assets in securities of foreign companies, and looks to invest the majority of its net assets in stocks of issuers in at least three different countries.

Also, the fund may invest in emerging markets as well as in developed markets throughout the world.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia or Europe. 

The fund seeks total return by investing in companies across any size in the United States.

The sub-adviser’s investment process is designed to invest in securities of real estate and real estate-related issuers.

The investment team considers an issuer to be a real estate or real estate-related issuer if at least 50% of its assets, gross income or net profits are attributable to ownership, construction, management or sale of residential, commercial or industrial real estate.

According to the team, these issuers include REITs or other real estate operating issuers that own property, make or invest in short-term construction and development mortgage loans, or invest in long-term mortgages or mortgage pools.

Also, these issuers include whose products and services are related to the real estate industry, such as manufacturers and distributors of building supplies and financial institutions that issue or service mortgages.

Next, the research team relies on fundamental analysis to evaluate a company on the basis of factors such as property market cycle analysis, property evaluation and management and structure.

In addition, the team looks for companies having superior underlying properties, a management team that can effectively manage capital structure decisions with strategic direction, and trading at attractive valuations.

Other factors in consideration are forecasted occupancy and rental rates of the various property markets in which a firm may operate, property locations, physical attributes, management depth and skill, insider ownership, overall debt levels, percentage of variable rate financing and fixed charge coverage ratios.

The team then narrows the investable universe with companies having attractive cash flow consistency and growth, dividend yield, dividend coverage and growth, and cash flow and assets to price multiples.

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

The fund may invest up to 10% of its net assets in non-investment grade debt securities of real estate and real estate-related issuers.

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of small- and mid-capitalization issuers.

The fund may invest up to 25% of its net assets in securities of foreign issuers.
 

The fund seeks total return by investing in companies across any size 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 invests in companies that pay dividends or are estimated to begin paying dividends in the future.

The team favors companies that are estimated to grow their dividends over time.

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 companies that possess durable advantages, as well as dividend 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 fund may also invest in foreign stocks, fixed-income instruments, convertible securities, preferred stocks, and derivatives such as covered call options.

The fund seeks 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.

The process employs a fund of funds strategy.

Next, the research team invests in open-end funds (commonly referred to as mutual funds), closed-end funds, and exchange-traded funds (collectively, the Underlying Funds).

The team generally categorizes each Underlying Fund as an equity, fixed-income, or alternative fund based on its investment profile.

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 typically allocates its assets among Underlying Funds, and within a pre-determined percentage range for its assets in equity funds.

The fund generally invests between 85% and 100% of its assets inequity funds. Such funds invest in equity securities of domestic and foreign companies, including small, medium and large market capitalization companies, and growth and value stocks.

Foreign equities are securities of issuers outside of the United States, including issuers in emerging or developing markets.

Underlying Funds also invest in real estate securities, listed infrastructure securities, and master limited partnerships.

The fund generally invests the remainder of its assets in a flexible combination of fixed-income and alternative funds.

Fixed-income funds generally invest in fixed income instruments such as investment-grade debt securities, below-investment-grade high yield securities, government and government-sponsored securities, corporate bonds, securitized products, and inflation-protected debt securities.

Alternative funds generally offer unique combinations of traditional equity securities and fixed-income securities or use alternative investment strategies, including primarily through the use of derivatives.

The fund may invest directly in derivatives to hedge its cash position and manage the duration of the fund’s portfolio, including but not limited to futures, total return swaps, and forward contracts.

In addition, the Fund will gain exposure to derivatives through its investments in Underlying Funds

The fund may hold a portion of its assets in cash, money market securities or other similar, liquid investments.

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, in selecting securities for the portfolio, the research team utilizes a three-step process, which includes fundamental, valuation and timeliness analysis.

Fundamental analysis involves building a series of financial models, as well as conducting in-depth interviews with management.

The team seeks to find high quality, fundamentally sound issuers operating in an attractive industry.

Valuation analysis focuses on identifying attractively valued securities given their growth potential over a one- to two-year horizon.

Timeliness analysis is used to help identify the timeliness of a purchase.

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 15% of its net assets in real estate investment trusts, and may also invest up to 25% of its net assets in foreign securities.

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 invests primarily in equity securities that have potential for earnings or revenue growth.

In selecting securities for the portfolio, the research team utilizes a three-step process, which includes fundamental, valuation and timeliness analysis.

Fundamental analysis involves building a series of financial models, as well as conducting in-depth interviews with management.

The team seeks to find high quality, fundamentally sound issuers operating in an attractive industry.

Valuation analysis focuses on identifying attractively valued securities given their growth potential over a one- to two-year horizon.

Timeliness analysis is used to help identify the timeliness of a purchase.

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 15% of its net assets in real estate investment trusts, and may also invest up to 25% of its net assets in foreign securities.

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 invests in companies that are estimated to trade below their fair values.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the team focuses on companies that are trading at significant discounts to their estimated intrinsic value.

The team favors quality businesses with potential to grow intrinsic value over time.

In addition, the team prefers established issuers that have superior growth prospects, the ability to earn an attractive return on invested capital and a management team with prudent capital allocation skills.

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 15% of its net assets in real estate investment trusts.

Also, the fund may invest up to 25% of its net assets in securities of foreign issuers, including securities of issuers located in emerging markets countries, and depositary receipts.

The fund can invest in derivative instruments including futures contracts and options.

The fund seeks total return 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 engaged in midstream MLP investments.

The process considers businesses engaged in the gathering, processing, transporting, terminalling, storing, distributing, or marketing of natural gas, natural gas liquids, crude oil, refined products or other hydrocarbons as related to MLP investments.

Next, the research team focuses on MLP investments that are engaged in or supporting the acquisition, exploration and development, or extraction of crude oil, condensate, natural gas, natural gas liquids and businesses engaging in the processing, treating, or refining of crude oil, natural gas liquids or other hydrocarbons.

Then the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The team relies on fundamental analysis to look for companies with superior business fundamentals and strategy, an excellent record of cash flow growth, distribution continuity, a capable management team and which are not overly exposed to changes in commodity prices.

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 fund is non-diversified, which means that it may invest in a limited number of issuers and at times, may hold fewer than 20 MLP investments.

The fund seeks total return 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 engaged in midstream MLP investments.

The process considers businesses engaged in the gathering, processing, transporting, terminalling, storing, distributing, or marketing of natural gas, natural gas liquids, crude oil, refined products or other hydrocarbons as related to MLP investments.

Next, the research team focuses on MLP investments that are engaged in or supporting the acquisition, exploration and development, or extraction of crude oil, condensate, natural gas, natural gas liquids and businesses engaging in the processing, treating, or refining of crude oil, natural gas liquids or other hydrocarbons.

Then the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The team relies on fundamental analysis to look for companies with superior business fundamentals and strategy, an excellent record of cash flow growth, distribution continuity, a capable management team and which are not overly exposed to changes in commodity prices.

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 fund is non-diversified, which means that it may invest in a limited number of issuers and at times, may hold fewer than 20 MLP investments.

The fund seeks total return 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 engaged in midstream MLP investments.

The process considers businesses engaged in the gathering, processing, transporting, terminalling, storing, distributing, or marketing of natural gas, natural gas liquids, crude oil, refined products or other hydrocarbons as related to MLP investments.

Next, the research team focuses on MLP investments that are engaged in or supporting the acquisition, exploration and development, or extraction of crude oil, condensate, natural gas, natural gas liquids and businesses engaging in the processing, treating, or refining of crude oil, natural gas liquids or other hydrocarbons.

Then the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The team relies on fundamental analysis to look for companies with superior business fundamentals and strategy, an excellent record of cash flow growth, distribution continuity, a capable management team and which are not overly exposed to changes in commodity prices.

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 fund is non-diversified, which means that it may invest in a limited number of issuers and at times, may hold fewer than 20 MLP investments.

The fund seeks total return 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 engaged in midstream MLP investments.

The process considers businesses engaged in the gathering, processing, transporting, terminalling, storing, distributing, or marketing of natural gas, natural gas liquids, crude oil, refined products or other hydrocarbons as related to MLP investments.

Next, the research team focuses on MLP investments that are engaged in or supporting the acquisition, exploration and development, or extraction of crude oil, condensate, natural gas, natural gas liquids and businesses engaging in the processing, treating, or refining of crude oil, natural gas liquids or other hydrocarbons.

Then the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The team relies on fundamental analysis to look for companies with superior business fundamentals and strategy, an excellent record of cash flow growth, distribution continuity, a capable management team and which are not overly exposed to changes in commodity prices.

Then the manager constructs a diversified portfolio 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 have earnings or revenue growth prospects.

Then the research team relies on quantitative techniques to identify companies with fundamental strength, attractive valuation relative to their growth prospects, and earnings conservatism.

The team prefers companies with consistent earnings and cash flow growth not yet recognized by investors.

In addition, the team focuses on growing companies with established business models. The research process includes meeting with company management teams, suppliers, distributors, competitors and customers.

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

The fund does not invest in companies which derive revenue from alcohol, tobacco or gambling.

The fund has the flexibility to invest up to 25% of its net assets in securities of foreign issuers, including up to 10% of its net assets in emerging markets countries.

The fund seeks capital appreciation by investing in companies across any size in the United States.

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The fund uses an indexing approach to be invested in all of the securities in the Invesco U.S. Large Cap Index in their approximate weightings.

At times, where it may not be possible or practicable to buy all of those securities in those same weightings the process utilizes a sampling methodology to track the performance of the Invesco U.S. Large Cap Index.

The research team also employs a volatility management strategy to stabilize the volatility and to reduce the downside risk of the fund during periods of significant and sustained market declines.

To implement this strategy, the team will sell short exchange-traded futures contracts in periods of high market volatility when the forecasted annualized volatility level of the fund’s returns is estimated to exceed the threshold volatility level.

It is possible for the fund to maintain its volatility at or under its threshold volatility level while having negative performance returns.

The actively managed portfolio may hold significant levels of cash and cash equivalent instruments, including affiliated money market funds, as margin or collateral for the fund’s exposure to futures contracts.

The fund will also invest in derivatives that the manager believes will decrease the volatility level of the fund’s annual returns.

The fund seeks total return 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.

Next, the research team focuses on companies that are trading at a discount to their estimated intrinsic value. The team emphasizes quality businesses with potential to grow intrinsic value over time.

Additionally, the team prefers companies with superior growth prospects, attractive return on invested capital and a management team having prudent capital allocation skills.

Then the research team focuses on companies experiencing special circumstances, such as initial public offerings, new management or management reliant upon one or a few key people, special products and techniques.

Other special circumstances include limited or cyclical product lines, services, markets or resources or unusual developments, such as acquisitions, mergers, liquidations, bankruptcies or leveraged buyouts.

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

As part of its stock selection process, the manager invests a significant portion of the fund’s net assets in companies within the same industries or sectors of the market.

The fund may invest up to 10% of its net assets in real estate investment trusts.

The fund may invest up to 25% of its net assets in securities of foreign issuers, including securities of issuers located in emerging markets countries, and depositary receipts.

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 demonstrating above-average growth potential.

The research team uses quantitative techniques to select established companies estimated to grow faster than the market.

In addition, the team looks for companies with sustainable growth rates and reasonable valuations relative to their growth potential.

The fund may also invest up to 10% of its net assets in emerging countries that are in the early stages of their industrial cycles.

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

The investment process starts with companies in the benchmark index. The process employs a bottom-up stock selection using fundamental research approach to look for companies with high earnings growth potential.

Next, the research team analyzes a company’s financial statements and management structure, and its industry position. The team also looks for newer or established companies that are in the early growth phase of their business cycle.

The fund has the flexibility to invest in companies in other market capitalization ranges and/or developed countries and emerging markets.

The Fund has no limits on the amount of its assets that can be invested in foreign securities.

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

The investment process using fundamental analysis evaluates a company’s financial performance, competitive strength and prospects, industry position, and business model and management strength. The process also considers industry outlook, market trends and general economic conditions.

Next, the team with the help of quantitative models ranks securities within each sector to identify potential investment opportunities based on relative outperformance expectations.

The portfolio managers consider stock rankings, benchmark index weights and capitalization outlooks in determining security weights for individual companies.

The fund has the flexibility to invest in securities issued by companies or governments in any country.