The fund seeks capital appreciation and income 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 real estate companies, principally real estate investment trusts, and other real estate securities globally.

The team employs a value-oriented approach that focuses on real estate fundamentals and assessments of management teams.

In addition, the team focuses on valuation relative to a company's underlying real estate assets as well as a company's on-going concern valuation.

The team also conducts detailed company research that includes regular management visits, property tours and financial analysis.

Also, the team analyzes the quality of real estate asset cash flows and sustainability and growth of company dividends. 

The team also evaluates the company's strategy, management's track record, incentives and ability to create long term shareholder value.

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

The fund invests in at least three different countries and at least 40% of its net assets in foreign securities, including emerging markets.

There is no limit on the amount of fund assets that may be invested in the securities of foreign real estate companies. 

The fund invests at least 25% of its net assets in real estate securities.

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

The sub-advisor’s investment process uses quantitative techniques and fundamental analysis to identify investment opportunities.

The sub-advisor looks for companies displaying sustainable above-market growth in revenues, earnings, and cash flows.

The fund participates in the initial public offering market, and also has the flexibility to invest its net assets in foreign securities.

The fund seeks income and capital appreciation by investing in 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 income-producing equity and equity-related securities.

The team seeks to identify attractively valued companies that exhibit solid cash flow growth and reliable/predictable earnings and revenue to produce attractive levels of dividend income.

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 without limit in foreign securities, including stocks and other equity-related securities, money market instruments and other fixed income securities of foreign issuers.

Also, the fund invests at least 40% of its net assets in foreign securities, including up to 20% of its net assets in the securities of issuers located in or otherwise economically tied to emerging markets countries.

The fund may from time to time be geographically concentrated and may invest a substantial amount of its assets in securities of issuers located in a single country or a small number of countries.

The fund may also participate in the initial public offering market.
 

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 starts with companies in the benchmark index and the research team looks for companies with above-average earnings growth.

Next, the team with the help of qualitative research narrows the list to include companies that are estimated to exhibit characteristics for earnings durability and sustainable business models.

The fund favors from this narrow list a group of companies with stocks prices that are not reflecting long term growth potential.

Normally the fund invests in mid-size companies but has the flexibility to invest in all market capitalizations.

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 securities of natural resource companies and in asset-based securities.

Natural resource companies are US and foreign (non-US based) companies that own, explore, mine, process or otherwise develop, or provide goods and services with respect to, natural resources, such as companies involved in the exploration and production of energy, oil, gas, metals and mining, and gold.

Asset-based securities are securities, the values of which are related to the market value of a natural resource.

In addition, the team seeks investments that have the potential to increase in value over a period of years.

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.

Generally, the portfolio consists of companies in a variety of natural resource related sectors, such as energy or materials, and natural resource related industries, such as oil and gas, chemicals, or metals and mining.

Also, the fund may invest without limitation in any one natural resource related sector or industry.

The fund seeks to outperform the benchmark index 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 and have potential for superior earnings growth.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team seeks to capitalize on inefficiencies in small-cap asset classes.

In addition, the team prefers companies having attractive valuations and excellent earnings or revenue growth potential.

As part of its process, the team relies on fundamental research and meetings with company managements.

The team emphasizes companies that have a superior competitive position, and quality management team.

Additionally, the team favors companies that have demonstrated growth in sales and earnings, balance sheet flexibility and strength, and strong earnings growth 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.

Also, the fund may invest in other equity-related securities, including structured notes, and convertible securities like bonds, corporate notes and preferred stocks.

The fund may participate in the initial public offering market.

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

The sub-advisor’s investment process is designed to highlight undervalued companies with near-term catalysts to unlock value.

The investment process starts with a list of companies in the benchmark index and screens based on financial and valuation metrics with a track record of earnings, growth, and free cash flow.

Then the research team with qualitative research and fundamental analysis seeks well established companies that are trading at discounts to their peers, past track record, and broader market averages.

The investment team then prepares a diversified fund from a select list of companies recommended by the research team and allocates capital based on its conviction on the outlook for each company.

The fund may invest up to 35% of its net assets to non-U.S. securities.    
 

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 companies located in or otherwise economically tied to emerging markets countries.

A company is considered to be an emerging market company if its securities are traded principally on stock exchanges in one or more emerging market countries, or it derives 50% or more of its total revenue from goods produced, sales made or services performed in one or more emerging market countries.

Also, the team considers a company if it maintains 50% or more of its assets in one or more emerging market countries, or it is organized under the laws of an emerging market country, or its principal executive office is located in an emerging market country.

In addition, the team evaluates companies on the basis of metrics such as valuation, growth, financial momentum and quality.

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 returns in excess of the Index over full market cycles.

Also, the fund may invest a large portion of its net assets in a single country or region.

The fund seeks to replicate total return 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.

Next, the research team invests in securities of companies in developed markets.

The team determines whether a country is developed through its proprietary methodology of macroeconomic and market-based criteria, including relative income, development status, and individual country risk, as well as market structure.

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 selecting securities for the portfolio, the manager employs a sampling strategy based on market capitalization and industry weightings.

In addition, 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.

Also, the fund has the flexibility to hold securities that are either to be added to or have been removed from the Index.

The fund may invest in securities of ETFs.
 

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

The sub-advisor’s investment process is designed to identify companies that are estimated to trade below their fair values. The process seeks established companies that are considered to be relatively inexpensive to their earnings power and growth, peers and broader market.

The investment process starts with a list of companies in the benchmark index and narrows the list to include with a growth track record of earnings and free cash flow.

Then the research team utilizes quantitative techniques to identify companies with attractive valuations. The team employs valuation multiples such as earnings, cash flow, and book value.

The team also considers other quantifiable characteristics that include measures of earnings quality, external financing, or trends in the earnings outlook.

Then the investment team constructs a diversified portfolio of stocks across different industries from the select list of companies recommended by the research team.

The fund seeks to outperform the benchmark index by investing in mid-size companies in the United States.

The sub-advisor’s 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 team employs an adaptive model that evaluates stocks differently based on their growth expectations.

The portfolio is constructed using a bottom-up stock selection process with the most attractive stocks identified by the model.   

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 designed to highlight quality companies that are trading at attractive valuations using quantitative metrics like price-to-earnings, price-to-cash flow, and price-to-book ratios.

The team also considers factors like measures of earnings quality, external financing, and trends in the earnings outlook when evaluating companies.

The portfolio is diversified using a bottom-up stock selection process and has the flexibility to invest 25% of its total assets in real estate investment trusts.

The fund seeks above-average capital appreciation 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.

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 attractively priced on the basis of valuation multiples such as earnings, cash flow, and book value.

In addition, the team also considers a company’s earnings quality, external financing, and trends in the 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 invests up to 25% of its net assets in real estate investment trusts.
 

The fund seeks to replicate total return performance of the S&P Composite 1500 Index before fees and expenses by investing in large-size companies in the United States.

The sub-adviser’s investment process focuses on companies in the S&P Composite 1500 Index, holding each security in approximately the same proportion as its weighting in the Index.

The process also takes into account asset levels, capital flows and trade size.

At times, where it may not be possible or practicable to buy all of the securities of the Index, the sub-adviser may use a sampling strategy based on market capitalization and industry weightings.

Normally, the portfolio may at times hold securities that are either to be added to or have been removed from the Index. However, the relative portfolio holdings at any time may not be precisely identical to the proportions of holdings of the Index.

The sub-adviser may also use stock index futures and/or ETFs to achieve the investment objective.

The fund seeks capital appreciation and income 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 securities of real estate companies, principally real estate investment trusts, and other real estate securities.

The team employs a value-oriented approach that focuses on real estate fundamentals and assessments of management teams.

In addition, the team focuses on valuation relative to a company's underlying real estate assets as well as a company's on-going concern valuation.

The team also conducts detailed company research that includes regular management visits, property tours and financial analysis.

Also, the team analyzes the quality of real estate asset cash flows and sustainability and growth of company dividends.

The team also evaluates the company's strategy, management's track record, incentives and ability to create long term shareholder 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 portfolio holds approximately 30 to 50 domestic and international real estate securities.

Also, the fund may invest without limit in securities of foreign real estate companies, including emerging markets.