The fund seeks maximum 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.

Next, the research team focuses on high quality established and emerging companies located in Europe that are estimated to trade below their fair values.

The team favors companies with durable competitive advantages that can generate revenue through growth.

Additionally, the team integrates disruptive change, financial strength, environmental, social and governance factors as part of its sustainability analysis.

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 also invest in American Depositary Receipts, Global Depositary Receipts and other types of depositary receipts with respect to issuers located in Europe.

Also, the fund may invest in emerging market or developing countries.

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 securities of high-quality established and emerging companies located throughout the world.

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 renowned companies with durable competitive advantages, valuable business models and proven management teams.

The team favors companies with increasing returns on invested capital, above-average estimate of future performance, superior free cash flow generation and attractive risk/reward characteristics.

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

The fund may invest in foreign securities, which may include emerging market securities.

Also, the fund invests at least 40% of its net assets in the securities of issuers located outside of the United States.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

The fund may also invest in companies with lower earnings volatility and/or companies with some cyclicality in their end markets.

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 securities of established and emerging 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 unique companies having durable competitive advantages with above average business visibility, the ability to deploy capital at high rates of return, balance sheet strength and an attractive risk/reward.

As part of the team's analysis of a company's sustainability, the team considers environmental, social and governance factors relating to the company.

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 privately placed and restricted securities.

Additionally, the fund may invest up to 25% of its net assets in foreign securities, including emerging market securities and securities classified as American Depositary Receipts, Global Depositary Receipts, American Depositary Shares or Global Depositary Shares, foreign U.S. dollar-denominated securities that are traded on a U.S. exchange or local shares of non-U.S. issuers.

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 with attractive growth prospects.

The process focuses on established and emerging companies to identify potential investment opportunities.

Next, the research process is driven by fundamental analysis of one stock at a time. The research team focuses on high-quality companies that exhibit durable competitive advantages and the ability to redeploy capital at high rates of return.

The team favors companies with increasing returns on invested capital, ability to estimate future performance, superior free cash flow generation and an attractive risk/reward profile.

Additionally, the Investment team integrates environmental, social and governance factors as part of its process.

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 may invest up to 25% of its net assets in securities of foreign issuers, including emerging market securities and American Depositary Receipts, Global Depositary Receipts, American Depositary Shares or Global Depositary Shares.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on developed and emerging countries based on a country's projected future economic growth and return potential.

The approach combines country analysis with sector allocation and bottom-up stock selection.

Then the team ranks countries relative to one another and their own history.

In addition, the team evaluates the global economic environment and each country’s fundamentals.

Additionally, the team integrates financial strength, environmental, social and governance factors as part of its sustainability analysis.

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 allocates the fund’s net assets among countries and sectors located throughout the world.

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 high-quality established companies with strong brand recognition and free-cash-flow yields, sustainable competitive advantages, and favorable returns on invested capital trends. The process focuses on long-term growth rather than short-term events.

The research process is driven by fundamental analysis of one stock at a time. Next, the research team looks for companies that it believes possess above average business visibility, strong balance sheets and an attractive risk/reward.

In addition, the investment team considers environmental, social and governance factors when assessing investment opportunities.

The fund has the flexibility to invest in foreign securities, which may include investments in emerging markets.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

The research process is driven by fundamental analysis of one stock at a time.

Next, the research team focuses on high quality established and emerging companies located in Asia (excluding Japan) that are estimated to trade below their fair values.

The team favors companies with durable competitive advantages that can generate revenue through growth.

Additionally, the team integrates disruptive change, financial strength, environmental, social and governance factors as part of its sustainability analysis.

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 American Depositary Receipts, Global Depositary Receipts and other types of depositary receipts with respect to issuers located in Asia.

Also, the fund invests in securities of companies located in China, Hong Kong, India, Indonesia, Korea, Malaysia, the Philippines, Singapore, Taiwan and Thailand.

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 securities of companies located in emerging market countries.

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 the future drivers of growth across the emerging markets.

The team then prefers companies that exhibit the potential to benefit from these growth themes.

In addition, the team relies on macro thematic research to identify companies that are estimated to become leading companies in emerging markets as well as developed country domiciled companies.

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 may hold or have exposure to securities of companies in any industry or sector.

The fund excludes holdings in tobacco companies.

The fund may also invest in American Depositary Receipts, Global Depositary Receipts and other types of depositary receipts with respect to companies located in emerging market countries.

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 securities of issuers located in emerging market countries.

As part of the process, the team combines top-down country allocation with bottom-up stock selection.

The team looks to maximize returns by emphasizing companies that demonstrate growth characteristics.

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 allocates the fund’s net assets among emerging markets based on relative economic, political and social fundamentals, stock valuations and investor sentiment.
 

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 U.S. and non-U.S. companies.

The team utilizes both a top-down and a bottom-up stock selection process to identify companies with attractive valuations, above-average appreciation potential and competitive dividend yields.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the team combines quantitative models and fundamental research.

The research team employs a sector-neutral factor model that is broadly grouped into four categories such as momentum/risk, valuation, quality and growth to help identify market drivers.

The team then couples the model’s output with in-depth analysis of individual stocks based on internal and external research.

In addition, the team integrates sustainability analysis as a part of its investment process. The sustainability analysis is inclusive of environmental; social and human capital, and business model, innovation, leadership and governance issues.

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 holds between 15 and 20 global companies.

The fund seeks to optimize factor tilts (e.g., growth vs. value, large cap vs. small cap) utilizing factor models that are driving the market.

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 U.S. and non-U.S. companies.

The team utilizes both a top-down and a bottom-up stock selection process to identify companies with attractive valuations, above-average appreciation potential and competitive dividend yields.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the team combines quantitative models and fundamental research.

The research team employs a sector-neutral factor model that is broadly grouped into four categories such as momentum/risk, valuation, quality and growth to help identify market drivers.

The team then couples the model’s output with in-depth analysis of individual stocks based on internal and external research.

In addition, the team integrates sustainability analysis as a part of its investment process. The sustainability analysis is inclusive of environmental; social and human capital, and business model, innovation, leadership and governance issues.

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 holds between 30 and 60 global companies.

The fund seeks to optimize factor tilts (e.g., growth vs. value, large cap vs. small cap) utilizing factor models that are driving the market.

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 securities of established and emerging companies located throughout the world.

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 renowned companies with durable competitive advantages, above-average estimate of future performance, the ability to deploy capital at high rates of return, balance sheet strength and an attractive risk/reward.

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 may invest in foreign securities, which may include emerging market securities.

Also, the fund invests at least 40% of its net assets in the securities of issuers located outside of the United States.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

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 securities of issuers located throughout the world.

The team favors companies with durable competitive advantages, capable management teams, and financial strength.

In addition, the team looks for high quality companies with superior business franchises and cash flows, modest capital requirements, balance sheet strength, and that typically return cash to shareholders.

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 may invest up to 25% of its net assets in a single issuer.

Also, the fund invests in securities of issuers from at least three different countries, which may include the United States.

Additionally, the fund may utilize foreign currency forward exchange contracts, which are derivatives, in connection with its investments in foreign securities.

The fund seeks to provide both capital appreciation and income 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 issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

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 focuses on high quality established and emerging companies located throughout the world 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 research team favors companies with durable competitive advantages that can generate revenue through growth.

Additionally, the team integrates disruptive change, financial strength, environmental, social and governance factors as part of its sustainability analysis.

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

The fund may invest in equity securities, as well as invest in privately placed and restricted securities.

The fund seeks to provide current income and capital appreciation by investing in companies outside the United States.

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

The fund manages assets with the help of two sub-advisers namely Morgan Stanley Investment Management Limited, and Morgan Stanley Investment Management Company.

The sub-advisers’ investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of companies in the real estate industry, including real estate operating companies, real estate investment trusts and similar entities established outside the United States.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes a value-driven approach to identify companies that offer the best relative value relative to their underlying assets and earnings.

As part of the top-down analysis, the team focuses on property markets that offer the best relative valuation. Top-down considerations include forecasted fundamental inflections, macroeconomic considerations, geopolitical and country risk assessments.

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 primarily in companies located in the developed countries of North America, Europe and Asia, but may also invest in emerging markets.

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 securities of issuers located throughout the world.

The team focuses on high-quality companies with sustainable and high returns on operating capital with dominant franchises, powerful intangible assets, and pricing power.

In addition, the team prefers companies with proven management teams that are able to allocate capital prudently to grow the franchise and improve the returns on operating capital.

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.

In considering sustainability impact, the manager may consider greenhouse gas (GHG) emissions intensity that is significantly lower than that of the reference universe.

The fund will exclude any company that has any tie to fossil fuels (such as oil, gas and coal), and whose core business activity involves energy, construction materials, gas and electric utilities (excluding renewable energy and water utilities), or metals and mining.

Next, the remaining issuers will then be ranked according to their GHG emissions intensity estimates, and those with the highest GHG emissions intensity will be excluded from the reference universe.

In addition, the fund excludes companies engaged in businesses such as tobacco, alcohol, adult entertainment, gambling, civilian firearms; or weapons.

Also, the fund will not invest in any company that has been excluded from the MSCI World ex Controversial Weapons Index due to its involvement with controversial weapons.

The fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities.

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 high-quality established and emerging companies with strong free-cash-flow yields, sustainable competitive advantages, and favorable returns on invested capital trends. The process focuses on long-term growth rather than short-term events.

The research process is driven by fundamental analysis of one stock at a time. Next, the research team looks for companies that it believes possess above average business visibility, strong balance sheets and an attractive risk/reward.

In addition, the investment team considers environmental, social and governance factors when assessing investment opportunities.

The fund has the flexibility to invest up to 25% of its net assets in foreign securities, which may include investments in emerging markets.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on high quality established companies on an international basis that are estimated to trade below their fair values.

The team favors companies with durable competitive advantages that can generate revenue through growth.

Additionally, the team integrates disruptive change, financial strength, environmental, social and governance factors as part of its sustainability analysis.

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

The fund may invest in foreign securities, which may include emerging market securities.

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 focuses on attractively priced companies demonstrating the ability to generate sustainably high returns on capital.

Also, the team prefers companies with reasonable or improving fundamentals trading at discounts to their estimated intrinsic value.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team emphasizes companies exhibiting high or improving returns on operating capital employed and recurring cash flows.

In addition, the team focuses on companies with capable management teams that have a track record of disciplined capital allocation.

Additionally, the 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 seeks capital appreciation in the long term by investing in companies outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on high quality established and emerging companies on an international basis that are estimated to trade below their fair values.

The team favors companies with durable competitive advantages that can generate revenue through growth.

Additionally, the team integrates disruptive change, financial strength, environmental, social and governance factors as part of its sustainability analysis.

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

The fund invests in securities of companies located in Europe, Japan, Asia, the Pacific Basin, Latin America, the Middle East and Africa.

However, the fund may also invest in securities of companies located in the United States to a limited extent.
 

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

The investment process combines quantitative models and fundamental research to highlight companies with attractive valuations, above-average appreciation potential and competitive dividend yields.

The investment team also integrates sustainability analysis as a part of its investment process. The sustainability analysis is inclusive of environmental; social and human capital; and business model, innovation, leadership and governance issues.

Next, the research team uses a sector-neutral factor model that is broadly grouped into four categories such as momentum/risk, valuation, quality and growth.

The team then couples the model’s output with in-depth analysis of individual stocks based on internal and external research.

Normally the portfolio holds 30 to 60 companies that seek to outperform the benchmark regardless of which investment style is in favor.

The fund seeks to optimize factor tilts using factor models to identify stocks that will achieve the desired factor tilts using quantitative models.

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

The investment process looks to invest in securities of companies in the real estate industry, including real estate investment trusts.

Next, the research team combines top-down and bottom-up methodologies to identify investment opportunities. 

Also, the research team integrates environmental, social and governance factors as part of its process.

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 manager overweights the portfolio in property markets that offer the best relative valuation and growth prospects.

Additionally, the fund focuses on REITs as well as real estate operating companies that invest in a variety of property types and regions.

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 securities of established and emerging companies located throughout the world.

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 unique companies with durable competitive advantages, above-average estimate of future performance, the ability to deploy capital at high rates of return, balance sheet strength and an attractive risk/reward.

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 may invest in foreign securities, which may include emerging market securities.

Also, the fund invests at least 40% of its net assets in the securities of issuers located outside of the United States.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

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

The investment process begins with fundamental analysis and quantitative research to identify high-quality established and emerging companies in the benchmark index with above-average earnings growth, strong free cash flow generation, rising returns on invested capital.

Next, the team with the help of qualitative research looks for companies with durable competitive advantages and sustainable business model and earnings growth.

The team also considers environmental, social and governance (ESG) factors when assessing investment opportunities.

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

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

The fund manages assets with the help of three sub-advisers namely BlackRock Financial Management, Inc., Van Eck Associates Corporation, and Lazard Asset Management LLC, who are responsible for investing the assets of the fund.

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

Van Eck looks for companies that are trading at reasonable valuations and demonstrate structural growth potential.

Lazard prefers companies that are estimated to trade below their fair values exhibiting the potential for high return on capital.

The sub-advisers’ investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on securities of issuers organized, domiciled or with substantial operations in emerging markets countries.

Certain emerging market countries may also be classified as frontier market countries, which are a subset of emerging countries with even smaller national economies.

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

The fund invests in securities of issuers located in at least three foreign countries.

Additionally, the fund may invest a portion of its net assets in closed-end investment companies that invest in emerging markets.

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

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

The fund manages assets with the help of five sub-advisers namely BlackRock Financial Management, Inc., Causeway Capital Management LLC, Schroder Investment Management North America Inc., Victory Capital Management Inc., and Walter Scott & Partners Limited.

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

Additionally, the fund employs sub-advisers with complementary approaches to international investing to manage its net assets.

The sub-advisers’ investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

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

Causeway focuses on underpriced securities that exhibit above-average financial strength.

Schroder emphasizes companies growing at a reasonable price having a durable competitive advantage.

Victory Capital favors companies exhibiting positive business momentum and that are trading at attractive valuations.

Walter Scott & Partners looks for companies that can generate consistent wealth over the long term.

Next, the research team focuses on companies located in developed markets, but also may invest a portion of its net assets in securities of companies located in emerging markets.

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 looks to diversify its net assets by investing in securities of issuers located in at least three foreign countries.

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

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

The sub-advisers are BlackRock Financial Management, Inc., ClearBridge Investments, LLC, Columbia Management Investment Advisers, LLC, Delaware Investments Fund Advisers, Lazard Asset Management LLC, and Lyrical Asset Management LP.

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

ClearBridge focuses on companies exhibiting consistent capital growth and lower volatility. The sub-adviser seeks to outperform the benchmark index over a full market cycle by diversifying across growth stocks.

Columbia has an investment process designed to highlight companies with above-average earnings growth potential.

Delaware focuses on identifying discrepancies between estimated intrinsic value and price by utilizing a strategy that prefers to buy during times of excessive pessimism and sell during times of undue optimism.

Lazard employs bottom-up, fundamental research to assess the relationship between valuation and financial productivity of companies under consideration.

Lyrical Invests in what it believes are quality companies with durable business strategies facing what it estimates are temporary issues.

The fund has the flexibility to invest up to 10% of its net assets in securities of foreign issuers and may lend securities to earn income.

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

The fund manages assets with the help of six sub-advisers namely Aristotle Capital Boston, LLC, BlackRock Financial Management, Inc., D.F. Dent & Company, Inc., Neuberger Berman Investment Advisers LLC, Nuance Investments, LLC, and Westfield Capital Management Company, L.P.

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

The sub-advisers’ investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Aristotle Capital focuses on companies that are lagging in market price, but with superior or improving fundamentals.

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

D.F. Dent favors companies that are consistent growers, have capable management teams, and are not yet recognized by investors.

Neuberger Berman focuses on companies that are lagging in market price and trading at significant discounts to their estimated intrinsic value, with the presence of a catalyst that may enhance shareholder value.

Nuance Investments focuses on companies that have leading and sustainable market share positions, above-average financial strength and are trading at discounts to their estimated intrinsic value.

Westfield Capital seeks companies with consistent or accelerating earnings growth, quality balance sheets, and reasonable valuations.

Next, the research team invests in the equity securities of small and mid capitalization companies or in other investments with similar economic characteristics.

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 10% of its net assets in the securities of foreign issuers that are not traded on a U.S. exchange or the U.S. over-the-counter market.

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