The fund seeks primarily capital appreciation and secondarily current income by investing in large-size companies in the United States.
The sub-adviser’s investment process is designed to highlight superior companies that are trading below the sub-adviser’s proprietary growth rate estimates. The process also focuses on companies that offer positive earnings surprises.
The research team relies on fundamental analysis to look for companies with above-average earnings growth potential.
The team favors a stock if the sub-adviser’s forecast for growth rates and earnings exceed market estimations and are less volatile than the broader market index. Generally, the portfolio holds 40 to 60 stocks.
The fund may also invest up to 25% of its net assets in foreign equity securities and in European Depositary Receipts or American Depositary Receipts, including in those companies located in emerging markets.
The fund has the flexibility to invest in foreign debt securities.
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 focuses on micro-cap companies that are underpriced relative to their estimate of private market value.
According to the team, micro-cap companies may also be new or unseasoned companies which are in their very early stages of development, or can also be engaged in new and emerging 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.
The fund may also invest up to 25% of its net assets in foreign securities and in European Depositary Receipts or American Depositary Receipts, including in those of companies located in emerging markets.
Additionally, the fund may also invest in foreign debt securities.
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 focuses on 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’ balance sheets, asset values, cash flow and earnings growth 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 may also invest up to 25% of its net assets in foreign securities and in European Depositary Receipts or American Depositary Receipts, including in those of companies located in emerging markets.
Additionally, the fund may also invest in foreign debt securities.
