The fund seeks primarily capital appreciation in the long term and secondarily current income by investing in small-size companies in 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 companies that are estimated to trade below their fair values for either transitory or cyclical reasons, or temporarily out of favor in the market.

The team also focuses on dividend-paying companies and other investments that provide income.

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 significant discounts to their estimated intrinsic value for temporary reasons.

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 issued by real estate investment trusts and, may also purchase securities of companies in initial public offerings.
 

The fund seeks capital appreciation in the long term by investing in small-and micro-size companies in 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 companies that are estimated to trade below their fair values but which still have good fundamentals.

The team seeks to capitalize on investors’ behavioral biases and cognitive errors that can result in securities being mispriced.

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 U.S. dollar-denominated stocks of foreign companies.

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.

The investment team believes differences in culture, government policies, fiscal and monetary policy, political and local trading creates investment opportunities.

Next, the research team considers securities of issuers located in developed and, to a lesser extent, emerging market countries around the world.

The research process focuses first on country selection and then on stock selection within individual countries.

Then a multifactor model ranks countries on the basis of factors such as value, momentum and risk.

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

However, the fund’s holdings are spread across multiple industries and geographic regions.

Generally, the fund invests in established companies in Europe, the United Kingdom, Japan, Asia, Australia and Canada.

Also, the fund does not invest more than 20% of its net assets in frontier market countries.

In addition, the fund has the flexibility to invest in equity securities of U.S. companies.

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

The sub-adviser’s investment process is designed to highlight established companies in the technology and science sectors, including in the semiconductor, semiconductor equipment, hardware, software, information technology services, communications equipment, social media, biotechnology and interactive media sectors.

Next, the research team utilizes qualitative and quantitative techniques to identify companies exhibiting superior sales and earnings growth prospects trading at a reasonable valuation.

The team looks for potential investment opportunities specifically within the technology, biotechnology and other growth industries.

When looking at particular companies, the team evaluates the scope of business of a company and its competitive landscape, as well as its management team’s experience.

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.

Additionally, the fund may also invest up to 25% of its net assets in U.S. dollar denominated stocks of foreign companies located in both developed and emerging markets.

The fund may also invest opportunistically in initial public offerings.

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

The sub-adviser’s investment process is designed to highlight companies that appear to be undervalued or are out of favor for temporary reasons and trading at a discount to their estimated intrinsic value.

Next, the research team uses bottom-up analysis to evaluate a company’s earnings, revenue growth, operating margins and economic factors.

The team also considers the level of industry competition, regulatory factors, the threat of technological obsolescence, and a variety of other industry factors.

The portfolio typically holds between 20 and 25 stocks of companies in which the sub-adviser has the highest level of conviction. Each potential investment is modeled over a five year time horizon.

The sub-adviser is not constrained by the sector or industry weights in the fund’s benchmark when constructing a portfolio.

The fund has the flexibility to invest in stocks of foreign companies.

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

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

The team prefers companies that outperform the benchmark index.

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

The sub-adviser’s investment process is designed to highlight companies that offer the potential for capital growth and/or dividend income.

Next, the research team uses fundamental analysis to focus on companies that demonstrate above-average potential for total return.

The team’s fundamental analysis involves the assessment of a company’s business environment, management quality, balance sheet, income statement, anticipated earnings, revenues and dividends, and environmental, social and/or governance factors.

The portfolio is broadly diversified across issuers, sectors, industries and styles. The portfolio at any given time may emphasize either growth or value stocks.

However, the sub-adviser allocates the fund’s net assets across a variety of industries, and typically seeks to maintain representation in each major industry.

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

The sub-advisor’s investment process is underpinned by the belief that investing in proven, high-quality companies leads to superior returns with below-average risk over a market cycle.

The investment process starts with a list of companies in the benchmark and with the help of fundamental analysis and quantitative research identifies companies with low debt to capital ratio, consistent earnings stream, high above-average margins, and high return on equity and return on asset ratios.

Next, the team narrows the investable list to include companies with superior management and that meet hurdle rates on growth. 

The fund seeks capital appreciation in the long term by investing in small-size companies in 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 companies with superior growth characteristics such as a leadership position in the relevant industry, a sustainable advantage, excellent earnings growth potential and experienced management teams.

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 meetings with management and analysis of the company’s financial statements and public disclosures.

In addition, the team reviews general economic conditions and analyzes their effect on various industries.

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.

At times the manager may emphasize one or more industries or sectors.

The fund seeks to maximize 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 stocks of U.S. and foreign companies, which are located in either developed countries or emerging market countries.

Emerging market countries include certain countries located in Latin America, Asia, Africa, the Middle East, and developing countries of Europe, primarily Eastern Europe.

The research team focuses on companies that are trading at significant discounts to their estimated intrinsic value.

The team looks to capitalize on pricing anomalies in markets.

In selecting securities for the portfolio, the team employs both a positive and negative screening process.

The negative screening process will exclude from the fund’s portfolio securities with more than 5% of sales in industries such as alcohol, tobacco, defense, nuclear, Genetically Modified Organisms, water bottles, gambling and pornography.

The positive screening process identifies securities of companies that are fundamentally attractive with superior valuation characteristics.

In addition, the positive screening process also includes evaluating material, fundamental sustainability factors such as environmental, social, and governance performance of companies.

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 its assets in investments that are tied economically to a number of countries throughout the world, including the United States.

An investment will be deemed to be tied economically to a particular country, including the United States, if its issuer is organized in the particular country, has its principal place of business in such country, or generates more than 50% of its revenues from business in that country.

The fund also may invest in currency futures and forward foreign currency exchange contracts, which are derivatives, in order to hedge against international currency exposure.

The fund seeks to replicate the performance of the benchmark index before fees and expenses 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.

The process uses a passive investing style to replicate the performance of the benchmark index.

The fund does not necessarily invest in all of the companies within a country included in the benchmark or in the same weightings.

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 small-size 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.

The investment team considers an issuer to be a non-U.S. company if it maintains its principal place of business outside the United States, it generates more than 50% of its revenues from business outside the United States, or its common stock trades on an exchange outside the United States.

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 above-average potential for capital appreciation.

Also, the portfolio is broadly diversified across issuers, countries, industries and even styles, and includes either growth or value stocks.

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.

Some of the companies in which the manager invests may be located in emerging market countries, which typically are developing and low- or middle-income countries.

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

The sub-adviser’s investment process is designed to highlight companies that are trading at a significant discount to their estimated intrinsic value.

The investment team utilizes a 7-step research framework to identify potential investments.

Next, the research team emphasizes companies with durable competitive advantages, attractive cash flow returns on invested capital, management teams focused on creating value for shareholders and structural growth drivers for the long term.

Then the manager constructs a diversified 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 either all of its assets or none of its assets in any particular capitalization size, or to invest a flexible combination of its assets among various capitalization sizes.

Generally, the portfolio holds between 35 and 45 stocks across a wide range of sectors and industries.

The fund may invest up to 25% of its net assets in securities of foreign issuers. Although the Fund maintains a diversified portfolio, it nonetheless may invest in a limited number of issuers.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 uses quantitative techniques and fundamental analysis to narrow the list of investable companies.

The process uses a passive investing style to replicate the composition of the benchmark index.

The fund does not necessarily invest in all of the securities included in the benchmark or in the same weightings. 

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in companies across any size in 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.

The investment team looks to Invest in multi-industry technology, including health care, and exposure to companies that produce or deploy innovative technologies.

Next, the research team focuses on companies in the technology sector, such as companies in the software, hardware and semiconductor industries. 

The team also considers companies in other industries, such as aerospace and defense, health care equipment, and biotechnology.

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 may invest more than 25% of its net assets in securities of companies in the technology sector.

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

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in small-size companies in 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.

The process utilizes a passive investing style to replicate the performance of the benchmark index.

The fund does not necessarily invest in all of the securities included in the benchmark index or in the same weightings.

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 small-size companies in 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 companies demonstrating improving earnings growth potential and attractive valuation.

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 discounts to their estimated intrinsic value.

In addition, the team favors companies with sustainable competitive advantages, as well as stakeholder-friendly management.

The research process also includes management discussions, industry knowledge and prior research.

The team seeks to identify companies with sustained high return on invested capital, consistent growth in free cash flow and stable to growing market share.

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 approximately between 25 and 40 companies.

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