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

The investment process is designed to highlight companies in the benchmark index that have the potential to generate attractive returns.

Then the research team relies on fundamental analysis to identify companies with established business models, high cash flows, and superior fundamentals.

The team prefers to hold these companies for three to five years or longer.

As an integral part of its evaluation, the team focuses on a company’s returns on invested capital and free cash flow generation.

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

The portfolio typically holds 65 to 85 securities.

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 growth-oriented U.S. and non-U.S. companies, which may include companies located or operating in developed, emerging, or frontier markets.

The team focuses on companies that demonstrate the potential for capital appreciation over the long-term and which may grow faster than the global economy.

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 superior competitive positions and consistent cash flows.

Also, the team prefers companies that demonstrate the ability to generate consistent growth of intrinsic business value over the long term.

The team also considers a company’s operational efficiency and management’s plans for capital allocation.

Additionally, the fund typically invests for a 3-5 year time horizon looking to capitalize on the discrepancies between short-term price movements and long-term fundamental prospects.

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 focused portfolio holds between 25 and 50 companies.

Although the fund has the flexibility to invest in companies from any country, it will invest mainly in countries with developed economies.

The fund will invest at least 40% of its net assets in non-U.S. securities, including global depositary receipts and American depositary receipts.

Also, the fund will invest in securities of issuers located in at least 3 different countries including the U.S.

From time to time, the fund may focus in securities of companies in the same economic sector, including the Information Technology sector.

In addition, the fund may invest in real estate investment trusts.

Additionally, the fund has the flexibility to invest across market capitalizations but may primarily invest in mid- and large-cap companies.

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

The investment process is designed to identify companies displaying attractive revenue and earnings growth. The manager generally prefers to hold companies for three to five years to take advantage of discrepancies between short-term price movements and long-term fundamental prospects.

Next, the research team utilizes bottom-up analysis to identify companies that it believes have strong competitive positions, and consistent cash flows. The team also focuses on a company’s returns on invested capital and its ability to generate free cash flow.

In addition, the team assesses a company’s key financial metrics, operational efficiency and management’s plans for capital allocation.

The portfolio is focused with companies exhibiting superior business models, strong cash flows and attractive returns.

The fund seeks capital appreciation in the long term by investing in small-and 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 stocks of growth-oriented companies that have long-term capital appreciation potential and may grow faster than the U.S. economy.

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 superior competitive positions and consistent cash flows.

Also, the team prefers companies that demonstrate the ability to generate consistent growth of intrinsic business value over the long term.

The team also considers a company’s operational efficiency and management’s plans for capital allocation.

Additionally, the fund typically invests for a 3-5 year time horizon looking to capitalize on the discrepancies between short-term price movements and long-term fundamental prospects.

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 focused portfolio holds between 25 and 35 companies.

From time to time, the fund may focus its investments in securities of companies in the same economic sector, including the Information Technology sector.

The fund may invest up to 20% of its net assets in securities of foreign issuers, which may include global depositary receipts and, without limitation, sponsored and unsponsored American depositary receipts that are actively traded in the United States, including issuers located or operating in emerging markets and frontier markets.

In addition, the fund may invest in real estate investment trusts.