The fund seeks capital appreciation in the long term by investing in companies located or with primary operations in Africa and the Middle East.

The countries in which the fund normally invests are Bahrain, Egypt, Jordan, Kenya, Kuwait, Lebanon, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, and United Arab Emirates.

Other countries in which the fund invests include Algeria, Angola, Botswana, Ghana, Ivory Coast, Mauritius, Mozambique, Namibia, Niger Republic, Rwanda, Senegal, Syria, Tanzania, Tunisia, Uganda, Zambia, and Zimbabwe.

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 research process is driven by fundamental analysis of one stock at a time. Next, the research team prefers companies with attractive valuations and consistent accelerated earnings growth over the long term.

The team looks to buy companies at reasonable prices relative to present or anticipated earnings, cash flow, or book value.

In addition, the team favors companies with leading or improving market position, attractive business niche, attractive or improving franchise or industry position, proven management teams, durable earnings and/or cash flow, and balance sheet strength.

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 non-diversified, meaning it may invest a greater portion of its assets in a single company and own more of the company’s voting securities than is permissible for a diversified fund.

However, the fund may make substantial investments in banks and financial companies in various African and Middle Eastern countries.

The fund seeks capital appreciation in the long term by investing in companies located or with primary operations in Africa and the Middle East.

The countries in which the fund normally invests are Bahrain, Egypt, Jordan, Kenya, Kuwait, Lebanon, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, and United Arab Emirates.

Other countries in which the fund invests include Algeria, Angola, Botswana, Ghana, Ivory Coast, Mauritius, Mozambique, Namibia, Niger Republic, Rwanda, Senegal, Syria, Tanzania, Tunisia, Uganda, Zambia, and Zimbabwe.

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 research process is driven by fundamental analysis of one stock at a time. Next, the research team prefers companies with attractive valuations and consistent accelerated earnings growth over the long term.

The team looks to buy companies at reasonable prices relative to present or anticipated earnings, cash flow, or book value.

In addition, the team favors companies with leading or improving market position, attractive business niche, attractive or improving franchise or industry position, proven management teams, durable earnings and/or cash flow, and balance sheet strength.

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 non-diversified, meaning it may invest a greater portion of its assets in a single company and own more of the company’s voting securities than is permissible for a diversified fund.

However, the fund may make substantial investments in banks and financial companies in various African and Middle Eastern countries.

The fund seeks capital appreciation in the long term by investing in companies across any size located or with primary operations in the emerging market countries of Europe, including Eastern Europe and the former Soviet Union.

The countries in which the fund normally invests are located in the Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, and Turkey.

Other countries in which the fund invests include Bulgaria, Croatia, Estonia, Georgia, Latvia, Lithuania, Slovakia, Slovenia, and Ukraine.

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 research process is driven by fundamental analysis of one stock at a time. Next, the research team prefers companies with attractive valuations and consistent accelerated earnings growth over the long term.

The team looks to buy companies at reasonable prices relative to present or anticipated earnings, cash flow, or book value.

In addition, the team favors companies with leading or improving market position, attractive business niche, attractive or improving franchise or industry position, proven management teams, durable earnings and/or cash flow, and balance sheet strength.

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 35% of its net assets in any industry that accounts for more than 20% of the emerging European market as a whole.

The fund considers frontier markets to be a subset of emerging markets.

The fund may invest significantly in the banking industry and energy sector.

The fund is non-diversified, meaning it may invest a greater portion of its assets in a single company and own more of the company’s voting securities than is permissible for a diversified fund.
 

The fund seeks capital appreciation in the long term by investing in companies across any size located or with primary operations in the emerging market countries of Europe, including Eastern Europe and the former Soviet Union.

The countries in which the fund normally invests are located in the Czech Republic, Greece, Hungary, Kazakhstan, Poland, Romania, Russia, and Turkey.

Other countries in which the fund invests include Bulgaria, Croatia, Estonia, Georgia, Latvia, Lithuania, Slovakia, Slovenia, and Ukraine.

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 research process is driven by fundamental analysis of one stock at a time. Next, the research team prefers companies with attractive valuations and consistent accelerated earnings growth over the long term.

The team looks to buy companies at reasonable prices relative to present or anticipated earnings, cash flow, or book value.

In addition, the team favors companies with leading or improving market position, attractive business niche, attractive or improving franchise or industry position, proven management teams, durable earnings and/or cash flow, and balance sheet strength.

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 35% of its net assets in any industry that accounts for more than 20% of the emerging European market as a whole.

The fund considers frontier markets to be a subset of emerging markets.

The fund may invest significantly in the banking industry and energy sector.

The fund is non-diversified, meaning it may invest a greater portion of its assets in a single company and own more of the company’s voting securities than is permissible for a diversified fund.
 

The fund seeks capital appreciation in the long term by investing in companies located in the Eastern Europe region.

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.

The strategy invests in dynamic companies in the Eastern European region including the Czech Republic, Greece, Hungary, Poland, Russia, Turkey and other countries of the region.

Next, the research team evaluates each of these countries’ strengths based on currency rates, GDP growth, interest rates and political stability.

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 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 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 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.