The fund seeks capital appreciation in the long term by investing in companies across any size 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 that have significantly more appreciation potential than downside risk over the long term.

The team focuses on equity securities with low valuations combined with growing earnings, cash flow and/or book value.

In addition, the fund favors companies experiencing special situations, such as spinoffs, liquidations, reorganizations, recapitalizations, mergers, management changes and technological changes.

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 securities of companies located both in the U.S. and abroad and in developed or emerging markets.

Such foreign securities may be listed on foreign exchanges as well as in the form of depositary receipts, such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts.

In addition, the fund may invest up to 30% of its net assets in fixed-income securities of any duration and any maturity.

The fund may also invest without limit in mutual funds and exchange-traded funds.

Additionally, the fund may invest up to 100% of its net assets in cash, cash equivalents, and high-quality, short-term debt securities, money market mutual funds and money market instruments due to a lack of suitable investment opportunities or for temporary defensive purposes.

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. equity securities.

As part of its company research process, the team relies on five key elements such as low valuation, discount to fair value, investment flexibility, focus and long-term perspective.

The team employs a proprietary screening process to identify companies with low valuations combined with earnings growth, cash flow and/or book value.

Foreign securities in which the fund may invest may be domiciled in countries outside of the U.S. and may be securities listed on foreign exchanges as well as in the form of depositary receipts, such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts.

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 securities of companies located both in the U.S. and abroad and in developed or emerging markets.

However, the fund will invest in the securities of companies located in at least four different countries.

The fund may also invest In companies experiencing special situations such as hidden assets, spinoffs, liquidations, reorganizations, recapitalizations, mergers, management changes and technological changes.

In addition, the fund may invest up to 30% of its net assets in fixed-income securities.

The fund may also invest up to 30% of its net assets in non-money market investment companies, including mutual funds and exchange-traded funds.

Additionally, the fund may invest up to 100% of its net assets in cash, cash equivalents, and high-quality, short-term debt securities, money market mutual funds and money market instruments for temporary defensive purposes.

The fund seeks capital appreciation in the long term and income by investing in companies across any size 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 a mix of equity securities and fixed-income securities.

The team focuses on equity securities with low valuations combined with growing earnings, cash flow and/or book value.

In addition, the fund favors companies experiencing special situations, such as spinoffs, liquidations, reorganizations, recapitalizations, mergers, management changes and technological changes.

Also, the team seeks to identify fixed-income investments with favorable risk-reward characteristics.

In screening for suitable investments, the team considers factors such as yield-to-maturity, credit quality, liquidity, call risk, duration risk, and capital appreciation potential.

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 allocates between 50% and 75% of its net assets to equity securities, and between 25% and 50% of its net assets to fixed-income securities.

The fund may invest up to 50% of its net assets in securities of foreign issuers listed foreign exchanges (excluding depositary receipts), including up to 25% of its net assets in issuers in emerging markets.

Also, the fund may invest without limit in depositary receipts, such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts.

The fund may also invest up to 30% of its net assets in non-money market investment companies, including exchange-traded funds.

Additionally, the fund may invest up to 100% of its net assets in cash, cash equivalents, and high-quality, short-term debt securities, money market mutual funds and money market instruments due to a lack of suitable investment opportunities or for temporary defensive purposes.