The fund seeks capital appreciation in the long term and 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 securities of companies that are estimated to trade below their fair values.

The team also focuses on a company’s balance sheet and financial strength.

In addition, the team favors companies that meet earnings, return on capital and growth criteria, and superior business prospects.

The team prefers companies that have the potential for improvement in cash flow levels and internal rates of return.

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 companies headquartered in foreign countries.

Additionally, the fund may invest in other investment companies that invest in equity securities.

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 companies that are principally engaged in the financial services industry.

A company is deemed to be principally engaged in the financial services industry if at least 50% of its consolidated assets, revenues, or net income are committed to, or are derived from, financial services-related activities.

The team favors companies that are trading at discounts to their estimated intrinsic value.

Also, the team emphasizes companies with balance sheet strength, and/or excellent business prospects.

In addition, the team considers companies with the potential for improvement in cash flow levels and internal rates of return.

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 company-specific criteria rather than on political, economic, or other country-specific factors.

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 at least 40% of its net assets in securities of companies headquartered in at least three different countries outside of the United States

However, during periods when market conditions are not deemed favorable, the fund will invest at least 30% of its net assets in such companies.

In addition, the fund may also invest up to 10% of its net assets in securities of companies that are headquartered in developing countries.

Developing countries, sometimes also referred to as emerging markets countries, include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries.

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 companies issued by non-U.S. (international) companies headquartered outside of the United States.

The team favors companies that are trading at discounts to their estimated intrinsic value referred to as premier companies.

Also, the team emphasizes companies with balance sheet strength, and/or excellent business prospects.

In addition, the team considers companies with the potential for improvement in cash flow levels and internal rates of return.

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 company-specific criteria rather than on political, economic, or other country-specific factors.

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 in securities of international companies headquartered in at least three different countries.

The portfolio generally holds less than 100 securities.

From time to time, a substantial portion of the fund’s assets may be invested in companies that are headquartered in a single country.

However, no more than 35% of the fund’s net assets may be invested in securities of companies headquartered in developing countries.

Generally, developing countries include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries.

The fund seeks long-term appreciation by investing in micro-cap companies in the United States.

The investment process is designed to identify micro-cap companies included in its benchmark with solid financial statements and are trading at significant discounts to their long-term prospects.

The investment team pursues multiple themes including out-of-favor stocks with investors but having excellent long-term growth prospects, companies undergoing restructuring with attractive turnaround potential, or sectors or companies that are suffering from investor neglect.

The fund favors holding companies that offer the most attractive risk-reward potential and are also estimated to offer significant downside cushion during market downturns.

The fund seeks long-term capital appreciation by investing in small- and micro-cap companies in the United States.

The investment process is designed to identify opportunistic situations that are categorized in themes including turnarounds, unrecognized asset values, undervalued growth and interrupted earnings.

The investment team looks for companies that are exhibiting the presence of near-term catalysts for future earnings growth in the form of new management, favorable business cycle, product innovation, and/or margin improvement.

The fund may invest up to 10% of its net assets in foreign companies and the fund may invest in other investment companies that invest in equity securities.

The fund seeks capital appreciation in the long term by investing in small-and micro-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 focuses on companies that are estimated to trade below their fair values.

In selecting securities for the portfolio, the research team relies on multiple investment disciplines.

The High Quality approach invests in companies that have high returns on invested capital and significant competitive advantages.

In the Traditional Value approach, the team focuses on companies that are trading at discounts to their estimated intrinsic value.

In the Dividend Value approach, the research team focuses on dividend-paying companies with superior business models and balance sheets trading at valuations that do not fully reflect their positive attributes.

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 companies headquartered in foreign countries.

Also, the fund may invest in other investment companies that invest in equity securities.

The fund does not focus its investments in companies that do business in the State of Pennsylvania.

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

The investment process starts with a list of companies that are included in its benchmark. The research team narrows the list of companies that meet hurdles on earnings, growth and valuation, and financial leverage.

Next the research team using quantitative and qualitative research and fundamental analysis identifies companies with durable business models, sustainable competitive advantages and/or are likely to benefit from the current favorable industry or sector trends.

The team focuses on separating companies that are estimated to have market leadership through quality business franchise, loyal customer based, innovative products.

The fund manager favors investing in companies that are expected to deliver multi-year earnings growth and operated by management with a track record of growth management and trading at attractive discounts to their estimated long-term outlook.

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

The investment process relies on deep analysis of accounting statements and identifies companies with low financial leverage and above-average earnings track record.

The fund manager using quantitative research looks for companies with solid financial statements and operating in out-of-favor industries where investor pessimism runs high.

The fund favors holding companies that are deemed to suffer from what are estimated to be temporary set of problems, lack of investor enthusiasm, or operating in out-of-favor industries.  

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

The investment process starts with a list of companies with market capitalization less than $7.5 billion. The research team narrows the list of companies that meet hurdles on earnings, growth and valuation.

Next the research team using quantitative and qualitative research and fundamental analysis identifies companies with durable business models, sustainable competitive advantages and/or are likely to benefit from the current favorable industry or sector trends.

The fund manager favors investing in companies that are expected to deliver multi-year earnings growth and operated by management with a track record of growth management and trading at discounts to their long-term outlook.

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 equity securities.

The team prefers companies with balance sheet strength, sustainable returns on invested capital, and superior levels of free cash flow from operations.

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 securities of companies headquartered in foreign countries.
 

The fund seeks capital appreciation in the long term and current income by investing in small-and micro-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 dividend-paying securities of companies that are estimated to trade below their fair values.

The team favors companies with low leverage, below-average valuations, and a track record of above-average profitability.

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 companies headquartered in foreign countries.

Also, the fund may invest in other investment companies that invest in equity securities.