The fund seeks to appreciate capital through investment in companies around the world in operating, developing or maintaining infrastructure.

The fund is sub-advised by CBRE Clarion Securities with a focus on companies in the transportation, communication, energy and utilities sectors.

The investment process combines the top-down selection of geographic region and sector allocation with bottom-up stock selection. The analyst team then identifies companies that offer better relative return-risk opportunities based on financial, strategic, regulatory and valuation metrics.

The fund holds between 35 and 65 stocks and allocates about 40% of capital to top 10 holdings.

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

The investment process is designed to invest in an equal number of shares of the common stock of a fixed list of well-established American corporations.

The team considers these companies as conservative investments.

The portfolio holds stocks of 21 such corporations. However, the value of participations of the fund will fluctuate with the market value of the underlying portfolio securities.

The fund seeks capital appreciation in the long term and current income by investing in companies 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 equity securities.

In addition, the team narrows the investable universe to a list of companies that exhibit stable dividend yields within each industry sector.

The team ranks each security relative to other securities within its region or sector to identify the most attractive securities within various geographic regions and sectors.

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 seeks to maximize total return to the extent consistent with maintaining lower volatility than the Index.

The fund invests in securities of issuers in a number of different countries, including the United States.

Also, the fund may invest in derivative instruments including, but not limited to, index futures, as well as real estate-related securities including real estate investment trusts.

Additionally, the fund may invest in other investment companies, including exchange-traded funds.

The fund may lend portfolio securities on a short-term or long-term basis, up to 30% of its net assets

The fund seeks maximum total return by investing in companies 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.

Then the research team narrows the investable universe to a list of companies that demonstrate steady dividend yields within each industry sector.

Next, the team considers the most attractive securities within various geographic regions and sectors by ranking each security relative to other securities within its region or sector.

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 in real estate-related securities, including real estate investment trusts.

Additionally, the fund has the flexibility to lend portfolio securities on a short-term or long-term basis, and may also invest in exchange-traded funds.
 

The fund seeks capital appreciation in the long term and current income by investing in mega-and large-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 invests in equity securities of dividend-paying issuers.

In selecting securities for the portfolio, the research team focuses on companies that offer an above-average dividend yield, and stability and growth of the dividend.

In addition, the team evaluates companies on the basis of factors such as growth, profitability, and valuation.

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 foreign securities, including companies located in countries with emerging securities markets.

Also, the fund may invest in real estate-related securities, including real estate investment trusts.

The fund may invest in other investment companies, including exchange-traded funds.

The fund may lend portfolio securities on a short-term or long-term basis.

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

The sub-advisor’s investment process is designed to highlight companies exhibiting above-average growth potential.

The research team combines quantitative and qualitative techniques to identify potential investment opportunities.

Next, the team in its quantitative screens focuses on companies that demonstrate strong business momentum and relative price strength that is not reflected in the current price.

In addition, the team uses fundamental analysis to evaluate a company’s revenue and earnings growth, and validate revised earnings estimates.

The fund has the flexibility to invest up to 25% of its net assets in securities of foreign issuers.

The fund seeks capital appreciation in the long term by investing in mid-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 invests in companies that have above average prospects for growth.

The team favors companies that exhibit superior business momentum and relative price strength, and which have a perceived value not reflected in their current valuations.

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 in derivative instruments including futures or index futures that have a similar profile to the benchmark of the fund.

Also, the fund may invest in real estate-related securities, including real estate investment trusts.

The fund may invest in other investment companies, including exchange-traded funds.

The fund may lend portfolio securities on a short-term or long-term basis, up to 331⁄3% of its net assets.

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

The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.

The fund manages assets with the help of three sub-advisers namely, Delaware Investments Fund Advisers, Van Eck Associates Corporation, and Voya Investment Management Co. LLC.

The sub-advisers act independently of each other and use their own methodology for selecting investments.

The sub-advisers’ 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 issuers in emerging markets.

According to the team, an emerging market company is one that is organized under the laws of, or has a principal place of business in, an emerging market; or for which the principal securities market is in an emerging market.

Also, the team considers an emerging market company to be one that derives at least 50% of its total revenues or profits from goods that are produced or sold, investments made, or services performed in an emerging market; or at least 50% of the assets of which are located in an emerging market.

Delaware Investments Fund Advisers (DIFA) favors companies with durable franchises when they are trading at a significant discount to their estimated intrinsic value.

VanEck focuses on reasonably-priced companies that exhibit superior structural growth potential.

Voya IM employs a passive management approach designed to track the performance of a custom index created by FTSE. The companies that demonstrate the five factors of momentum, quality, size, value and low volatility are included in the Index.

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 in real estate-related securities including real estate investment trusts and non-investment-grade bonds, as well as exchange-traded funds.

The fund has the flexibility to lend portfolio securities on a short-term or long-term basis.

The fund seeks capital appreciation in the long term by investing in companies outside the United States.

The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.

The fund manages assets with the help of two sub-advisers namely PanAgora Asset Management, Inc. and Voya Investment Management Co. LLC.

The sub-advisers act independently of each other and use their own methodology for selecting investments.

PanAgora seeks to identify and exploit investment opportunities resulting from investors’ under/over reactions to market information and market inefficiencies.

Voya IM employs a passive management approach designed to track the performance of a custom index created by FTSE. The companies that demonstrate the five factors of momentum, quality, size, value and volatility are included in the Index.

The sub-advisers’ 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.

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 its net assets in securities of companies located in a number of different countries other than the United States.

Also, the fund may invest in securities of companies from emerging market countries.

The fund may also invest in depositary receipts, warrants and rights of foreign issuers.

Additionally, the fund may invest in real estate-related securities including real estate investment trusts.

The fund has the flexibility to lend portfolio securities on a short-term or long-term basis, and may also invest in exchange-traded funds.

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

The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.

The fund manages assets with the help of two sub-advisers namely Acadian Asset Management, LLC, and Victory Capital Management Inc.

The sub-advisers act independently of each other and use their own methodology for selecting investments.

The sub-advisers’ 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 stocks of international issuers, including companies located in countries with emerging securities markets.

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 both growth and value stocks.

Also, the fund may invest up to 35% of its net assets in U.S. issuers.

Additionally, the fund may invest in real estate-related securities including real estate investment trusts.

The fund has the flexibility to lend portfolio securities on a short-term or long-term basis, and may also invest in exchange-traded funds.

From time to time, the fund may invest in such instruments as forward foreign currency exchange contracts, futures contracts, rights, and depositary receipts.

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

The fund manages assets by hiring sub-advisers and currently works with three. The fund prefers a multi-manager investing approach to reduce volatility and downside risk.

The sub-advisors are Hahn Capital Management, LLC, LSV Asset Management and Voya Investment Management Co., LLC.

LSV uses a quantitative investment model to evaluate factors like low price-to-cash flow or price-to-earnings ratio. The team also evaluates price performance of the stock in the past and present.

Hahn's investment process seeks to minimize capital losses and believes in investing in companies that offer superior business models; balance sheets; and management skills. The sub-advisor’s strategy is to buy stocks at a discount to their value and hold them until the value is fully recognized by the broader market.

Voya IM employs a passive management approach designed to track the performance of a custom index created by FTSE Russell. The companies that demonstrate the four factors of momentum, quality, value and low volatility are included in the Index.

The fund may also invest in securities of non-U.S. companies, including companies located in countries with emerging securities markets.  

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

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.

The investment team defines a Russian company as a company that: is organized under the laws of, or with principal offices in, Russia; has 50% or more of its assets in Russia; or derives 50% or more of its total revenue from sales made in markets in Russia.

Next, the research team focuses on companies that are estimated to trade below their fair values due to an underappreciation of their pace of development and earnings growth.

The team also considers companies exhibiting the potential for revenue and profits growth.

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 is not constrained by a particular investment style and may invest in growth or value securities.

The fund may also invest in the companies located outside of Russia, including those companies located in the former Soviet Union.

Additionally, the fund may invest in exchange-traded funds.

The fund is non-diversified, which means it may invest a significant portion of its assets in a single issuer.
 

The fund seeks capital appreciation by investing in small-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 invests in companies that demonstrate above average prospects for growth.

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 that demonstrate relative strength, as well as have improving bottom lines with reasonable valuation.

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 in real estate-related securities, including real estate investment trusts.

Additionally, the fund has the flexibility to lend portfolio securities on a short-term or long-term basis, and may invest in exchange-traded funds.
 

The fund seeks to maximize total return by investing in 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 invests in equity securities of dividend-paying securities.

In selecting securities for the portfolio, the research team focuses on companies that exhibit stable dividend yields within each industry sector.

The team ranks each security to identify the most attractive securities within each sector.

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 derivative instruments including, but not limited to, index futures.

Also, the fund may invest in real estate-related securities, including real estate investment trusts.

The fund may invest in other investment companies, including exchange-traded funds.

The fund may lend portfolio securities on a short-term or long-term basis.

The fund seeks high 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 securities of companies that are principally engaged in the real estate industry.

The team considers a company to be principally engaged in the real estate industry if the company derives at least 50% of its total revenue or earnings from owning, operating, developing, constructing, financing, managing, and/or selling commercial, industrial, or residential real estate; or has at least 50% of its assets invested in real estate.

As part of the process, the team employs a top-down region and sector allocation with bottom-up individual stock selection process.

First, the team selects sectors and geographic regions in which to invest through a systematic evaluation of public and private property market trends and conditions.

Second, the team utilizes proprietary analytical techniques to conduct fundamental company analysis.

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 will have investments located in a number of different countries, including the United States.

Also, the fund may invest in companies located in countries with emerging securities markets.

The fund may invest in other investment companies, including exchange-traded funds,

In addition, the fund may lend portfolio securities on a short-term or long-term basis, up to 33?1?3% of its net assets.

The fund seeks total return by investing in companies across any size in the United States.

The sub-adviser’s investment process is designed to highlight companies that invest in securities of real estate investment trusts and real estate companies.

The investment team defines a real estate company as a company that derives at least 50% of its total revenue or earnings from owning, operating, leasing, developing, managing, brokering and/or selling real estate; or has at least 50% of its assets invested in real estate.

According to the investment team, companies principally engaged in the real estate industry may include real estate investment trusts, master limited partnerships, real estate owners, real estate managers, real estate brokers, real estate dealers, and companies with substantial real estate holdings.

Next, the research team evaluates property market conditions and trends to assess which market sectors offer potentially attractive returns.

The team also utilizes quantitative and qualitative techniques to evaluate individual securities independently and relative to each other.

In addition, the research team employs third-party portfolio optimization tools in the construction of the portfolio.

Then the manager constructs a portfolio from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level.

The manager focuses on companies that provide income and capital appreciation potential in the long term.

The fund has the flexibility to lend portfolio securities on a short-term or long-term basis, and may also invest in exchange-traded funds.