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 real estate investment trusts and other real-estate related securities.

The team will consider real estate securities to be those securities issued by companies principally engaged in the real estate industry, which derive at least 50% of their revenues from the ownership, operation, development, construction, financing, management or sale of commercial, industrial or residential real estate and similar activities, or invest at least 50% of their assets in such real estate.

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 in the securities of issuers located in a number of different countries throughout the world.

However, the fund will maintain exposure to real estate related securities of issuers in the US and in at least three countries outside the US.

The fund seeks capital appreciation 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 equity securities that are tied economically to emerging market countries. Such investments may include equity securities issued by companies domiciled in emerging market countries.

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, to a limited extent, in bonds, including up to 10% of its net assets in bonds that are below investment grade.

Additionally, the fund may also invest, to a limited extent, in securities of other investment companies that invest in emerging markets.

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

The fund uses a manager of managers approach to investing. UBS Asset Management, the fund’s investment advisor recommends the hiring, termination, replacement, and allocation of assets among the fund's sub-advisors.

Jackson Square Partners, LLC, Mar Vista Investment Partners, LLC and J.P. Morgan Investment Management Inc. currently serve as the fund's sub-advisors.

Jackson Square Partners (JSP) looks for companies that offer superior business models and strong free cash flow generation that are attractively priced relative to their estimated intrinsic value. JSP also considers a company's operational efficiencies, management's plans for capital allocation and the company's shareholder orientation.

Mar Vista focuses on companies that are trading at a discount to their fair value with sustainable competitive advantages. The sub-advisor also evaluates management’s ability to create value for shareholders.

J.P. Morgan prefers companies demonstrating above-average growth potential, leading competitive positions, predictable and durable business models and management that can achieve sustained growth.

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

The fund uses a manager of managers approach to investing. UBS Asset Management, the fund’s investment advisor recommends the hiring, termination, replacement, and allocation of assets among the fund's sub-advisors.

Pzena Investment Management, LLC, Los Angeles Capital Management and Equity Research, Inc. and Wellington Management Company LLP currently serve as the fund's sub-advisors.

The sub-advisers’ investment process is designed to identify companies that are estimated to trade below their fair values.

Pzena employs a disciplined investment process to highlight companies that are underperforming their historically demonstrated earnings power.

The sub-advisor employs intensive fundamental research to identify companies that are significantly undervalued based on market price relative to normalized earnings. The team also evaluates the company’s underlying financial condition and business prospects.

Los Angeles Capital employs a long/short or 130/30 equity strategy. Los Angeles Capital buys securities long that it believes will outperform the market, and sells securities short that it believes will underperform the market.

The sub-advisor utilizes statistical tools to estimate expected returns based on each security's risk characteristics and the expected return to each characteristic in the current market environment.

Security weights, both long and short, are assigned through an integrated optimization process and the portfolio is rebalanced periodically using the quantitative model.

Los Angeles Capital uses its proprietary model to identify businesses that generate returns above the benchmark index.

Wellington focuses on companies with superior prospects for dividend growth and capital appreciation that sell at reasonable valuation levels.

The sub-advisor focuses on solid companies with temporary issues, rather than distressed opportunities. The sub-advisor utilizes a contrarian approach focused on longer-term fundamentals to create a portfolio with an above-market projected growth rate and higher dividend yield and which trades at a discount to the market.

In addition, the sub-advisor prefers companies that have the potential to continue paying their dividends in weak economic environments.

The fund may from time to time invest a significant portion of its net assets in the stocks of companies in various economic sectors, such as financials.

The fund may also invest up to 20% of its net assets in non-US securities.
 

The fund seeks to maximize capital appreciation 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 that are tied economically to emerging market countries.

Securities tied economically to emerging market countries include securities on which the return is derived from issuers in emerging market countries, such as equity swap contracts and equity swap index contracts.

The team invests in securities of issuers located in at least three emerging market countries, which may be located in Asia, Europe, Latin America, Africa and/or the Middle East.

Also, the team considers an investment to be tied to a particular country if the investment is issued or guaranteed by a particular government or any of its agencies, political subdivisions, or instrumentalities.

In addition, the team considers an investment to be tied to a particular country if the investment has its primary trading market in a particular country, or the issuer is organized under the laws of, derives at least 50% of its revenues from, or has at least 50% of its assets in a particular country.

Other factors in consideration would be if the investment is included in an index representative of a particular country or region; and the investment is exposed to the economic fortunes and risks of a particular country. 

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 the stocks of between 20 to 40 issuers.

The fund may invest in China A-shares too.

The fund seeks to maximize total return 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 invests in equity securities.

The team focuses on attractively-valued companies that integrate sustainability factors into the business model to build a competitive advantage.

Also, the team prefers companies whose products and services can create meaningful, intentional, verifiable and measurable impact on the society and the environment.

Next, the team favors companies that are aligned with the United Nations Sustainable Development Goals.

In selecting securities for the portfolio, the team employs both a positive and negative screening process.

The negative screening process will exclude from the fund’s portfolio securities with more than 5% of sales in industries such as alcohol, tobacco, defense, nuclear, gambling, and pornography.

The positive screening process identifies securities of companies that are fundamentally attractive with superior valuation characteristics.

In addition, the positive screening process focuses on companies that provide solutions to significant global challenges through the impact of their products and services.

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 may invest in issuers from both developed markets (including the United States) and emerging markets.

Also, the derivatives may invest in futures, forward currency agreements and equity participation notes.

The fund also may use futures contracts on equity securities and indices to gain market exposure on its uninvested cash.
 

The fund seeks to maximize total return 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 issuers organized or having their principal place of business outside the United States or doing a substantial amount of business outside the United States.

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 in issuers from both developed and emerging markets, and also, may invest in China A-shares.

The fund looks to diversify broadly among countries.

The derivatives in which the fund may invest include futures, forward currency agreements and equity participation notes.

The fund also may use futures contracts on equity securities and indices to gain market exposure on its uninvested cash.

Additionally, the fund may invest in companies at the time of their initial public offering.

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 of US small capitalization companies.

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 20% of its net assets in foreign securities.

The derivatives in which the fund may invest include futures and forward currency agreements.