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 foreign companies that are trading at discounts to their estimated intrinsic value with the potential to grow their earnings and cash flow.

The team prefers cash-generative companies at attractive valuations.

In addition, the team also looks for key attributes in companies including free cash flow, earnings growth, return on invested capital, balance sheet strength and relative upside to its estimate of 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 constructs a portfolio designed to generate alpha, or risk-adjusted excess return, relative to the benchmark.

Additionally, the team considers a company’s environmental, social, and corporate governance practices.

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 35 to 60 securities of companies.

The fund invests its net assets in stocks of foreign companies in developed countries, and, to a lesser extent, in emerging markets and/or in U.S.-based companies.

Also, the fund considers foreign companies to include those domiciled outside of the United States or with the principal trading market of their securities outside of the United States.

The investment team considers developed countries to be Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.

However, the fund considers emerging market countries to be those countries that are neither the United States nor developed countries.

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 companies that have attractive growth prospects for earnings and/or cash flows.

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

Additionally, the team considers a company’s environmental, social, and corporate governance practices.

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 is designed to generate alpha, or risk-adjusted excess return, relative to the benchmark.

The fund invests in securities of companies, whose stock is traded on U.S. markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs).
 

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

The investment process is designed to highlight companies in the benchmark index that have superior growth potential and are trading at a discount to their estimated intrinsic value.

The research team is driven by fundamental research utilizing a combination of external and proprietary research to narrow the list of investable companies.

Then the team seeks to identify companies that have historically generated, or are positioned to generate, superior returns on investments.

The team relies on fundamental analysis to focus on companies that have capable management, broad resources and a competitive market position.

Then the manager constructs a portfolio of high-quality companies typically spread across economic sectors.

The manager allocates assets opportunistically and is not constrained by market capitalization or style parameters.

The fund seeks capital appreciation in the long term by investing in companies across any size 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 tied economically to emerging markets countries.

The team considers a company to be tied economically to a particular country if it is organized under the laws of that country or maintains its principal offices or headquarters in that country.

Other factors would be if a company’s securities are principally traded in that country, or it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in that country, or has at least 50% of its assets in that country.

Then the team utilizes proprietary quantitatively models to and selects securities based on value, momentum and profitability models.

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 will allocate the fund’s net assets among various regions and countries.

The portfolio holds companies with traditional value characteristics coupled with positive company fundamentals and momentum factors.

The fund has a diversified exposure with geographic and sector neutrality.

Additionally, the fund may utilize derivatives such as swaps, options, futures, options on futures and P-notes to manage risk inherent in the fund’s portfolio.

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 companies located outside of the United States, including those in emerging markets.

The team considers a company to be outside of the United States if it is organized under the laws of a foreign country or maintains its principal offices or headquarters in a foreign country.

Other factors would be if a company’s securities are principally traded in a foreign country, or it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in a foreign country, or has at least 50% of its assets in a foreign country.

Then the team utilizes a quantitatively driven process with stock selection model based on valuation, profitability and momentum factors.

In addition, the team prefers companies that are trading at discounts to their estimated intrinsic value, but also demonstrating positive earnings and price momentum.

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 manager will allocate its assets among various regions and countries including those in emerging markets.

The portfolio holds companies with traditional value characteristics coupled with positive company fundamentals and momentum factors.

The fund has a diversified exposure with geographic and sector neutrality.

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

The team focuses on companies that are attractively priced relative to historical valuation, peer groups, and the market.

In addition, the team evaluates a company’s cash flow capability over time.

The team seeks to identify companies that have the potential for significant improvement in return on invested 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.

The fund invests in securities of companies, whose stock is traded on U.S. markets, including depositary receipts or shares issued by companies incorporated outside of the United States (e.g., ADRs).