The fund seeks primarily capital appreciation and secondarily current income 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 the securities of U.S. and non-U.S. infrastructure-related issuers.

According to the team, an infrastructure-related issuer has at least 50% of its assets consisting of infrastructure assets or 50% of its gross income or net profits attributable to or derived, directly or indirectly, from the ownership, management, construction, development, operation, utilization or financing of infrastructure assets.

Examples of infrastructure assets include transportation assets, utility assets, and social assets.

In addition, the fund maintains no less than 40% of its net assets in the securities of issuers located outside of the United States.

Also, the fund will allocate its net assets among issuers located in no fewer than three different countries, one of which may be the United States.

The fund considers an issuer to be located in a country if the issuer is organized under the laws of the country or maintains its principal place of business in that country, or the issuer's securities are traded principally in the country.

Additionally, the fund considers an issuer to be located in a country if during the issuer's most recent fiscal year, such issuer derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in the country or has at least 50% of its assets in that country.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team relies on fundamental analysis to evaluate companies on the basis of quality and price.

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 concentrates its investments in infrastructure-related issuers.

Also, the fund may invest without limitation in the securities of foreign issuers that are publicly traded in the United States or on foreign exchanges, including securities of emerging market issuers, and in depositary receipts.
 

The fund seeks primarily capital appreciation and secondarily current income 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 the securities of U.S. and non-U.S. infrastructure-related issuers.

According to the team, an infrastructure-related issuer has at least 50% of its assets consisting of infrastructure assets or 50% of its gross income or net profits attributable to or derived, directly or indirectly, from the ownership, management, construction, development, operation, utilization or financing of infrastructure assets.

Examples of infrastructure assets include transportation assets, utility assets, and social assets.

In addition, the fund maintains no less than 40% of its net assets in the securities of issuers located outside of the United States.

Also, the fund will allocate its net assets among issuers located in no fewer than three different countries, one of which may be the United States.

The fund considers an issuer to be located in a country if the issuer is organized under the laws of the country or maintains its principal place of business in that country, or the issuer's securities are traded principally in the country.

Additionally, the fund considers an issuer to be located in a country if during the issuer's most recent fiscal year, such issuer derived at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in the country or has at least 50% of its assets in that country.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team relies on fundamental analysis to evaluate companies on the basis of quality and price.

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 concentrates its investments in infrastructure-related issuers.

Also, the fund may invest without limitation in the securities of foreign issuers that are publicly traded in the United States or on foreign exchanges, including securities of emerging market issuers, and in depositary receipts.
 

The fund seeks 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 securities of infrastructure companies listed on a domestic or foreign exchange, throughout the world, including the United States.

The team considers an issuer to be in a foreign market if the issuer is organized under the laws of that country, or derives at least 50% of its revenues or profits from goods produced or sold, investments made, services performed, or has at least 50% of its assets located within that country.

Generally, the fund seeks to invest in securities of infrastructure companies in the United States and in at least three countries outside the United States.

The fund defines an infrastructure company as any company that derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets.

Infrastructure assets include toll roads, bridges and tunnels, airports, seaports, electricity generation and transmission and distribution lines, gathering, treating, processing, fractionation, transportation and storage of hydrocarbon products, water and sewage treatment and distribution pipelines, communication towers and satellites; and railroads.

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 an assessment of a company’s general financial condition, its competitive positioning and management strength, as well as industry characteristics.

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 energy-infrastructure companies organized as master limited partnerships.

The fund may invest up to 20% of its net assets in fixed income securities, including below-investment grade rated securities.

Additionally, the fund may invest up to 20% of its net assets in fixed income securities, including obligations of the U.S. Government, floating rate loans and money-market instruments.

The fund may invest up to 25% of its net assets in publicly traded securities of infrastructure companies, whose primary operations or principal trading market is in an emerging market.

In addition, the fund may invest up to 15% of its net assets in securities deemed illiquid.

The fund seeks 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 securities of infrastructure companies listed on a domestic or foreign exchange, throughout the world, including the United States.

The team considers an issuer to be in a foreign market if the issuer is organized under the laws of that country, or derives at least 50% of its revenues or profits from goods produced or sold, investments made, services performed, or has at least 50% of its assets located within that country.

Generally, the fund seeks to invest in securities of infrastructure companies in the United States and in at least three countries outside the United States.

The fund defines an infrastructure company as any company that derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets.

Infrastructure assets include toll roads, bridges and tunnels, airports, seaports, electricity generation and transmission and distribution lines, gathering, treating, processing, fractionation, transportation and storage of hydrocarbon products, water and sewage treatment and distribution pipelines, communication towers and satellites; and railroads.

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 an assessment of a company’s general financial condition, its competitive positioning and management strength, as well as industry characteristics.

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 energy-infrastructure companies organized as master limited partnerships.

The fund may invest up to 20% of its net assets in fixed income securities, including below-investment grade rated securities.

Additionally, the fund may invest up to 20% of its net assets in fixed income securities, including obligations of the U.S. Government, floating rate loans and money-market instruments.

The fund may invest up to 25% of its net assets in publicly traded securities of infrastructure companies, whose primary operations or principal trading market is in an emerging market.

In addition, the fund may invest up to 15% of its net assets in securities deemed illiquid.

The fund seeks 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 securities of infrastructure companies listed on a domestic or foreign exchange, throughout the world, including the United States.

The team considers an issuer to be in a foreign market if the issuer is organized under the laws of that country, or derives at least 50% of its revenues or profits from goods produced or sold, investments made, services performed, or has at least 50% of its assets located within that country.

Generally, the fund seeks to invest in securities of infrastructure companies in the United States and in at least three countries outside the United States.

The fund defines an infrastructure company as any company that derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets.

Infrastructure assets include toll roads, bridges and tunnels, airports, seaports, electricity generation and transmission and distribution lines, gathering, treating, processing, fractionation, transportation and storage of hydrocarbon products, water and sewage treatment and distribution pipelines, communication towers and satellites; and railroads.

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 an assessment of a company’s general financial condition, its competitive positioning and management strength, as well as industry characteristics.

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 energy-infrastructure companies organized as master limited partnerships.

The fund may invest up to 20% of its net assets in fixed income securities, including below-investment grade rated securities.

Additionally, the fund may invest up to 20% of its net assets in fixed income securities, including obligations of the U.S. Government, floating rate loans and money-market instruments.

The fund may invest up to 25% of its net assets in publicly traded securities of infrastructure companies, whose primary operations or principal trading market is in an emerging market.

In addition, the fund may invest up to 15% of its net assets in securities deemed illiquid.

The fund seeks capital appreciation in the long term and current income 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 securities issued by U.S. and foreign (non-U.S.) infrastructure-related companies.

According to the team, an infrastructure-related company has at least 50% of its assets consisting of infrastructure assets, or 50% of its gross income or net profits attributable to, or derived (directly or indirectly) from the ownership, management, construction, development, operation, use, creation or financing of infrastructure assets.

Infrastructure assets include transportation assets, utility assets and social assets.

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 factors such as a company’s operations, risk profile, growth expectations and valuation.

In addition, the team utilizes an Economic Value Added framework to select investments. The team believes markets often undervalue or overvalue a company’s ability to create or destroy wealth. The framework seeks to identify and exploit these investment opportunities.

As part of the process, the team evaluates a company’s ability to generate favorable returns, market position and expertise, brand value, pricing power, financial strength, profit margin changes, and return on capital improvement.

Other factors in consideration are a company’s durability of revenue growth, ability to generate cash flow, management teams that are aligned with shareholders’ interests, dividends or current income, market share gains, innovation and reinvestment, and corporate governance.

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.

Also, the fund will invest at least 40% of its net assets in securities of companies organized or located in at least three non-U.S. countries.

The fund may also engage in transactions in foreign currencies.

Additionally, the fund’s investments in securities of foreign issuers may include sponsored or unsponsored depositary receipts, such as American Depositary Receipts and Global Depositary Receipts.

The fund seeks capital appreciation in the long term and current income 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 securities issued by U.S. and foreign (non-U.S.) infrastructure-related companies.

According to the team, an infrastructure-related company has at least 50% of its assets consisting of infrastructure assets, or 50% of its gross income or net profits attributable to, or derived (directly or indirectly) from the ownership, management, construction, development, operation, use, creation or financing of infrastructure assets.

Infrastructure assets include transportation assets, utility assets and social assets.

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 factors such as a company’s operations, risk profile, growth expectations and valuation.

In addition, the team utilizes an Economic Value Added framework to select investments. The team believes markets often undervalue or overvalue a company’s ability to create or destroy wealth. The framework seeks to identify and exploit these investment opportunities.

As part of the process, the team evaluates a company’s ability to generate favorable returns, market position and expertise, brand value, pricing power, financial strength, profit margin changes, and return on capital improvement.

Other factors in consideration are a company’s durability of revenue growth, ability to generate cash flow, management teams that are aligned with shareholders’ interests, dividends or current income, market share gains, innovation and reinvestment, and corporate governance.

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.

Also, the fund will invest at least 40% of its net assets in securities of companies organized or located in at least three non-U.S. countries.

The fund may also engage in transactions in foreign currencies.

Additionally, the fund’s investments in securities of foreign issuers may include sponsored or unsponsored depositary receipts, such as American Depositary Receipts and Global Depositary Receipts.

The fund seeks income and capital appreciation 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 i issued by companies that are engaged in the infrastructure business and other investments with similar economic characteristics.

The team considers companies to be engaged in the infrastructure business if at least 50% or more of their assets, income, sales or profits are committed to, derived from or related to, the construction, renovation, ownership, development, financing, management or operation of infrastructure assets or the provision of raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include physical structures, networks, developments and projects that communities and economies require to function and grow, including transportation-related infrastructure, energy-related infrastructure, water and sewage infrastructure, communications infrastructure, and social services-related infrastructure and other resources and services necessary for the construction and maintenance of infrastructure assets.

In selecting securities for the portfolio, the research team focuses on companies with sustainable cash flows over the .long term.

The team also focuses on companies that are attractively valued relative to other companies in the same industry or market.

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 30 to 60 holdings.

The fund may invest a significant portion of its net assets in foreign securities.

Also, the fund will invest in assets that are tied economically to a minimum of three countries (which may include the United States).

Additionally, the fund will invest a substantial portion (at least 40%, unless market conditions are deemed to be unfavorable, in which case at least 30%) of its assets in investments tied economically to countries outside of the United States.

The fund may invest up to 20% of its  net assets in securities of companies located in countries with developing or emerging markets.
 

The fund seeks income and capital appreciation 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 i issued by companies that are engaged in the infrastructure business and other investments with similar economic characteristics.

The team considers companies to be engaged in the infrastructure business if at least 50% or more of their assets, income, sales or profits are committed to, derived from or related to, the construction, renovation, ownership, development, financing, management or operation of infrastructure assets or the provision of raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include physical structures, networks, developments and projects that communities and economies require to function and grow, including transportation-related infrastructure, energy-related infrastructure, water and sewage infrastructure, communications infrastructure, and social services-related infrastructure and other resources and services necessary for the construction and maintenance of infrastructure assets.

In selecting securities for the portfolio, the research team focuses on companies with sustainable cash flows over the .long term.

The team also focuses on companies that are attractively valued relative to other companies in the same industry or market.

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 30 to 60 holdings.

The fund may invest a significant portion of its net assets in foreign securities.

Also, the fund will invest in assets that are tied economically to a minimum of three countries (which may include the United States).

Additionally, the fund will invest a substantial portion (at least 40%, unless market conditions are deemed to be unfavorable, in which case at least 30%) of its assets in investments tied economically to countries outside of the United States.

The fund may invest up to 20% of its  net assets in securities of companies located in countries with developing or emerging markets.
 

The fund seeks income and capital appreciation 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 i issued by companies that are engaged in the infrastructure business and other investments with similar economic characteristics.

The team considers companies to be engaged in the infrastructure business if at least 50% or more of their assets, income, sales or profits are committed to, derived from or related to, the construction, renovation, ownership, development, financing, management or operation of infrastructure assets or the provision of raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include physical structures, networks, developments and projects that communities and economies require to function and grow, including transportation-related infrastructure, energy-related infrastructure, water and sewage infrastructure, communications infrastructure, and social services-related infrastructure and other resources and services necessary for the construction and maintenance of infrastructure assets.

In selecting securities for the portfolio, the research team focuses on companies with sustainable cash flows over the .long term.

The team also focuses on companies that are attractively valued relative to other companies in the same industry or market.

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 30 to 60 holdings.

The fund may invest a significant portion of its net assets in foreign securities.

Also, the fund will invest in assets that are tied economically to a minimum of three countries (which may include the United States).

Additionally, the fund will invest a substantial portion (at least 40%, unless market conditions are deemed to be unfavorable, in which case at least 30%) of its assets in investments tied economically to countries outside of the United States.

The fund may invest up to 20% of its  net assets in securities of companies located in countries with developing or emerging markets.
 

The fund seeks total return by investing in companies outside the United States.

The fund manages assets with the help of two sub-advisers namely, Cohen & Steers Asia Limited, and Cohen & Steers UK Limited.

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 invests in U.S. and non-U.S. securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies.

Infrastructure companies are companies that derive at least 50% of their revenues from, or have at least 50% of their assets committed to, the management, ownership, operation, construction, development, servicing or financing of assets used in connection with the generation, production, transmission, sale or distribution of electric energy, natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy sources.

Also, the team considers infrastructure companies as companies that are involved in the distribution, purification and treatment of water, provision of communications services, or the provision of transportation services.

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 have the potential to provide an attractive total return through a combination of current income and capital appreciation.

The team evaluates each company on the basis of valuation multiples such as cash flow, earnings, and  book values as well as earnings growth rate, and dividend yield.

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 will invest in infrastructure companies primarily in developed countries, but may invest in securities of infrastructure companies domiciled in emerging market countries.

Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries.

The fund may invest in infrastructure securities that in certain instances are structured as Real Estate Investment Trusts.

Additionally, the fund may invest up to 20% of its net assets in below investment grade securities.

The fund seeks total return by investing in companies outside the United States.

The fund manages assets with the help of two sub-advisers namely, Cohen & Steers Asia Limited, and Cohen & Steers UK Limited.

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 invests in U.S. and non-U.S. securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies.

Infrastructure companies are companies that derive at least 50% of their revenues from, or have at least 50% of their assets committed to, the management, ownership, operation, construction, development, servicing or financing of assets used in connection with the generation, production, transmission, sale or distribution of electric energy, natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy sources.

Also, the team considers infrastructure companies as companies that are involved in the distribution, purification and treatment of water, provision of communications services, or the provision of transportation services.

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 have the potential to provide an attractive total return through a combination of current income and capital appreciation.

The team evaluates each company on the basis of valuation multiples such as cash flow, earnings, and  book values as well as earnings growth rate, and dividend yield.

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 will invest in infrastructure companies primarily in developed countries, but may invest in securities of infrastructure companies domiciled in emerging market countries.

Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries.

The fund may invest in infrastructure securities that in certain instances are structured as Real Estate Investment Trusts.

Additionally, the fund may invest up to 20% of its net assets in below investment grade securities.

The fund seeks total return by investing in companies outside the United States.

The fund manages assets with the help of two sub-advisers namely, Cohen & Steers Asia Limited, and Cohen & Steers UK Limited.

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 invests in U.S. and non-U.S. securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies.

Infrastructure companies are companies that derive at least 50% of their revenues from, or have at least 50% of their assets committed to, the management, ownership, operation, construction, development, servicing or financing of assets used in connection with the generation, production, transmission, sale or distribution of electric energy, natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy sources.

Also, the team considers infrastructure companies as companies that are involved in the distribution, purification and treatment of water, provision of communications services, or the provision of transportation services.

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 have the potential to provide an attractive total return through a combination of current income and capital appreciation.

The team evaluates each company on the basis of valuation multiples such as cash flow, earnings, and  book values as well as earnings growth rate, and dividend yield.

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 will invest in infrastructure companies primarily in developed countries, but may invest in securities of infrastructure companies domiciled in emerging market countries.

Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries.

The fund may invest in infrastructure securities that in certain instances are structured as Real Estate Investment Trusts.

Additionally, the fund may invest up to 20% of its net assets in below investment grade securities.

The fund seeks total return by investing in companies outside the United States.

The fund manages assets with the help of two sub-advisers namely, Cohen & Steers Asia Limited, and Cohen & Steers UK Limited.

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 invests in U.S. and non-U.S. securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies.

Infrastructure companies are companies that derive at least 50% of their revenues from, or have at least 50% of their assets committed to, the management, ownership, operation, construction, development, servicing or financing of assets used in connection with the generation, production, transmission, sale or distribution of electric energy, natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy sources.

Also, the team considers infrastructure companies as companies that are involved in the distribution, purification and treatment of water, provision of communications services, or the provision of transportation services.

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 have the potential to provide an attractive total return through a combination of current income and capital appreciation.

The team evaluates each company on the basis of valuation multiples such as cash flow, earnings, and  book values as well as earnings growth rate, and dividend yield.

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 will invest in infrastructure companies primarily in developed countries, but may invest in securities of infrastructure companies domiciled in emerging market countries.

Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries.

The fund may invest in infrastructure securities that in certain instances are structured as Real Estate Investment Trusts.

Additionally, the fund may invest up to 20% of its net assets in below investment grade securities.

The fund seeks total return by investing in companies outside the United States.

The fund manages assets with the help of two sub-advisers namely, Cohen & Steers Asia Limited, and Cohen & Steers UK Limited.

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 invests in U.S. and non-U.S. securities issued by infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, marine ports, telecommunications companies and other infrastructure companies.

Infrastructure companies are companies that derive at least 50% of their revenues from, or have at least 50% of their assets committed to, the management, ownership, operation, construction, development, servicing or financing of assets used in connection with the generation, production, transmission, sale or distribution of electric energy, natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy sources.

Also, the team considers infrastructure companies as companies that are involved in the distribution, purification and treatment of water, provision of communications services, or the provision of transportation services.

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 have the potential to provide an attractive total return through a combination of current income and capital appreciation.

The team evaluates each company on the basis of valuation multiples such as cash flow, earnings, and  book values as well as earnings growth rate, and dividend yield.

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 will invest in infrastructure companies primarily in developed countries, but may invest in securities of infrastructure companies domiciled in emerging market countries.

Typically, emerging markets are in countries that are in the process of industrialization, with lower gross national products per capita than more developed countries.

The fund may invest in infrastructure securities that in certain instances are structured as Real Estate Investment Trusts.

Additionally, the fund may invest up to 20% of its net assets in below investment grade securities.

The fund seeks total return in the long term and current income 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 Infrastructure Investments. Infrastructure Investments include any assets or projects that support the operation, function, growth or development of a community or economy.

The infrastructure assets in which the fund invests include assets related to transportation, transportation equipment, electric utilities and power, energy, communication networks and equipment, water and sewage treatment, social infrastructure, metals, and mining.

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 Infrastructure Investments in the United States or in foreign countries, including emerging market countries. However, the fund generally seeks to invest principally in instruments denominated in U.S. dollars.

Additionally, the fund may invest more than 50% of its net assets in investment grade investments and unrated instruments to be of comparable credit quality.

The fund seeks total return in the long term and current income 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 Infrastructure Investments. Infrastructure Investments include any assets or projects that support the operation, function, growth or development of a community or economy.

The infrastructure assets in which the fund invests include assets related to transportation, transportation equipment, electric utilities and power, energy, communication networks and equipment, water and sewage treatment, social infrastructure, metals, and mining.

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 Infrastructure Investments in the United States or in foreign countries, including emerging market countries. However, the fund generally seeks to invest principally in instruments denominated in U.S. dollars.

Additionally, the fund may invest more than 50% of its net assets in investment grade investments and unrated instruments to be of comparable credit quality.

The fund seeks total return including capital appreciation and current income by investing in companies that own and/or operate physical infrastructure.

The investment process looks for companies around the world that own and/or operate physical infrastructure that support global economic growth. Some of the examples of infrastructure include energy pipeline network, communication towers, ports, electric energy producers or network operators, and bridges and tunnel operators.

The fund looks for companies in each region of the world that offer superior risk-reward profile and favors companies that are estimated to create shareholder value in the longer-term.

The fund seeks total return including capital appreciation and current income by investing in companies that own and/or operate physical infrastructure.

The investment process looks for companies around the world that own and/or operate physical infrastructure that support global economic growth. Some of the examples of infrastructure include energy pipeline network, communication towers, ports, electric energy producers or network operators, and bridges and tunnel operators.

The fund looks for companies in each region of the world that offer superior risk-reward profile and favors companies that are estimated to create shareholder value in the longer-term.

The fund seeks total return including capital appreciation and current income by investing in companies that own and/or operate physical infrastructure.

The investment process looks for companies around the world that own and/or operate physical infrastructure that support global economic growth. Some of the examples of infrastructure include energy pipeline network, communication towers, ports, electric energy producers or network operators, and bridges and tunnel operators.

The fund looks for companies in each region of the world that offer superior risk-reward profile and favors companies that are estimated to create shareholder value in the longer-term.

The fund seeks total return including capital appreciation and current income by investing in companies that own and/or operate physical infrastructure.

The investment process looks for companies around the world that own and/or operate physical infrastructure that support global economic growth. Some of the examples of infrastructure include energy pipeline network, communication towers, ports, electric energy producers or network operators, and bridges and tunnel operators.

The fund looks for companies in each region of the world that offer superior risk-reward profile and favors companies that are estimated to create shareholder value in the longer-term.

The fund seeks total return including capital appreciation and current income by investing in companies that own and/or operate physical infrastructure.

The investment process looks for companies around the world that own and/or operate physical infrastructure that support global economic growth. Some of the examples of infrastructure include energy pipeline network, communication towers, ports, electric energy producers or network operators, and bridges and tunnel operators.

The fund looks for companies in each region of the world that offer superior risk-reward profile and favors companies that are estimated to create shareholder value in the longer-term.

The fund seeks total return including capital appreciation and current income by investing in companies that own and/or operate physical infrastructure.

The investment process looks for companies around the world that own and/or operate physical infrastructure that support global economic growth. Some of the examples of infrastructure include energy pipeline network, communication towers, ports, electric energy producers or network operators, and bridges and tunnel operators.

The fund looks for companies in each region of the world that offer superior risk-reward profile and favors companies that are estimated to create shareholder value in the longer-term.

The fund seeks capital appreciation and inflation-protected income 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 infrastructure companies listed on a domestic or foreign exchange, throughout the world, including the United States.

The team defines infrastructure companies as those companies that derive at least 65% of their operating earnings from the ownership or operation of infrastructure assets.

Also, the team defines infrastructure assets as the physical structures, networks and systems of transportation, energy, water, waste, and communication.

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 are mispriced.

In addition, the team prefers companies which have high barriers to entry, superior pricing power, durable growth and predictable cash flows.

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 at least 40% of its net assets, or if conditions are not favorable, invests at least 30% of its net assets, in publicly traded securities of infrastructure companies whose primary operations or principal trading market is in a foreign market.

The fund has the flexibility to maintain exposure to securities of infrastructure companies in the United States and in at least three countries outside the United States.

The infrastructure securities in which the fund typically invests are within sectors such as oil and gas storage and transportation, airport services, highways and rail tracks, marine ports and services, and multi/electric/gas/water utilities.

The fund may invest up to 75% of its net assets in depositary receipts, such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts

The fund may also invest in stapled securities to gain exposure to infrastructure companies in Australia.

Additionally, the fund may invest up to 30% of its net assets in real estate investment trusts and up to 20% of its net assets in limited partnerships and master limited partnerships listed on a domestic or foreign exchange.

The fund will invest more than 25% of its net assets in the securities issued by companies operating in the infrastructure industry.

The fund seeks capital appreciation in the long term 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 infrastructure companies, such as utilities, toll roads, airports, ports and communications companies.

The team prefers infrastructure companies that have an appropriate capital structure, are likely to generate reliable income streams and benefit from inflation protection.

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 generally consist of 80 to 100 companies.

The fund will invest in both U.S. and non-U.S. companies.

With respect to its non-U.S. investments, the fund invests in companies located in developed countries but may also invest in emerging markets.

The fund seeks capital appreciation in the long term 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 infrastructure companies, such as utilities, toll roads, airports, ports and communications companies.

The team prefers infrastructure companies that have an appropriate capital structure, are likely to generate reliable income streams and benefit from inflation protection.

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 generally consist of 80 to 100 companies.

The fund will invest in both U.S. and non-U.S. companies.

With respect to its non-U.S. investments, the fund invests in companies located in developed countries but may also invest in emerging markets.

The fund seeks attractive risk-adjusted returns 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 infrastructure companies.

The team prefers infrastructure companies that have an appropriate capital structure, are likely to generate reliable income streams and benefit from inflation protection.

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 generally consist of 20 to 40 companies.

Additionally, the fund will invest in both U.S. and non-U.S. companies.

With respect to its non-U.S. investments, the fund invests in companies located in developed countries but may also invest in emerging markets.

The fund will typically hold up to 20% of its assets in cash and cash equivalents.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

The fund seeks 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 securities of issuers that are engaged in or related to the infrastructure group of industries (infrastructure companies).

An issuer is engaged in or related to the infrastructure group of industries if it is involved in the ownership, development, construction, renovation, financing, management, sale or operation of infrastructure assets.

Also, the team considers an issuer is engaged in or related to the infrastructure group of industries if it provides the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include utilities, energy, transportation, real estate, media, telecommunications and capital goods.

Also, the research team integrates environmental, social and governance factors as part of its process.

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

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 will invest in the securities of infrastructure companies that are economically tied to at least three countries, including the United States.

Also, the fund will invest in the securities of infrastructure companies that are economically tied to developed countries in North America and Europe.

In addition, the fund may also invest in the securities of infrastructure companies that are economically tied to countries with emerging markets or economies.

The fund may invest in real estate investment trusts, and may also invest up to 20% of its net assets in master limited partnerships and up to 20% of its net assets in issuers that are not infrastructure companies.

Also, the fund is non-diversified, which means it may invest a larger percentage of its assets in fewer issuers than a diversified fund.

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 equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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 equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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 equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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 equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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 equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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 equity securities of U.S. and non-U.S. infrastructure-related companies and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers a company to be an infrastructure-related company if it derives at least 50% of its revenue or profits from the ownership or operation of infrastructure assets, which include the physical structures, networks and systems of transportation, energy, water and sewage, and communication.

Examples of infrastructure assets include transportation assets, utility assets and social assets.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates and ranks potential investments.

The team favors companies demonstrating consistent cash flow growth, positive earnings revisions, relatively attractive multiples to cash flow and assets to price, durable dividends, and favorable investor reception relative to peers.

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 will invest in companies economically tied to at least three different countries, including the U.S.

Also, the fund may invest at least 40%, unless market conditions are not deemed favorable, in which case at least 30%, of the fund’s net assets in companies that are economically tied to countries other than the U.S.

The fund may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.

The fund may also invest in infrastructure-related companies organized as master limited partnerships.

In addition, the fund may invest in derivative instruments, including forward foreign currency contracts and futures contracts.

The fund is non-diversified, which means that it can invest a greater percentage of its assets in a small group of issuers or in any one issuer than a diversified fund can.

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.

However, the strategy emphasizes on absolute returns over a full market cycle.

Next, the research team invests in global securities of companies with infrastructure-related assets.

According to the team, infrastructure-related assets are long-lived physical assets that are held by companies, including financial holding companies, that engage in the ownership, management, construction, development, renovation, operation, use or financing of infrastructure assets, or that provide the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets are the physical structures, networks and systems which provide necessary services for the function, growth and development of society, including but not limited to transportation and shipping, energy and utilities, water and sewage, communication, and social assets.

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

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.

However, the fund will generally be diversified regionally across global equity markets, including emerging markets.

In addition, the securities in which the fund invests may often provide higher dividend yields than the broader equity market.

The fund may invest in debt securities, including convertible bonds, without any maturity limit and of any credit quality, including high-yield securities.

The fund may also invest in cash, cash equivalents, and derivative instruments.

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.

However, the strategy emphasizes on absolute returns over a full market cycle.

Next, the research team invests in global securities of companies with infrastructure-related assets.

According to the team, infrastructure-related assets are long-lived physical assets that are held by companies, including financial holding companies, that engage in the ownership, management, construction, development, renovation, operation, use or financing of infrastructure assets, or that provide the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets are the physical structures, networks and systems which provide necessary services for the function, growth and development of society, including but not limited to transportation and shipping, energy and utilities, water and sewage, communication, and social assets.

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

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.

However, the fund will generally be diversified regionally across global equity markets, including emerging markets.

In addition, the securities in which the fund invests may often provide higher dividend yields than the broader equity market.

The fund may invest in debt securities, including convertible bonds, without any maturity limit and of any credit quality, including high-yield securities.

The fund may also invest in cash, cash equivalents, and derivative instruments.

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.

However, the strategy emphasizes on absolute returns over a full market cycle.

Next, the research team invests in global securities of companies with infrastructure-related assets.

According to the team, infrastructure-related assets are long-lived physical assets that are held by companies, including financial holding companies, that engage in the ownership, management, construction, development, renovation, operation, use or financing of infrastructure assets, or that provide the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets are the physical structures, networks and systems which provide necessary services for the function, growth and development of society, including but not limited to transportation and shipping, energy and utilities, water and sewage, communication, and social assets.

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

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.

However, the fund will generally be diversified regionally across global equity markets, including emerging markets.

In addition, the securities in which the fund invests may often provide higher dividend yields than the broader equity market.

The fund may invest in debt securities, including convertible bonds, without any maturity limit and of any credit quality, including high-yield securities.

The fund may also invest in cash, cash equivalents, and derivative instruments.

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.

However, the strategy emphasizes on absolute returns over a full market cycle.

Next, the research team invests in global securities of companies with infrastructure-related assets.

According to the team, infrastructure-related assets are long-lived physical assets that are held by companies, including financial holding companies, that engage in the ownership, management, construction, development, renovation, operation, use or financing of infrastructure assets, or that provide the services and raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets are the physical structures, networks and systems which provide necessary services for the function, growth and development of society, including but not limited to transportation and shipping, energy and utilities, water and sewage, communication, and social assets.

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

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.

However, the fund will generally be diversified regionally across global equity markets, including emerging markets.

In addition, the securities in which the fund invests may often provide higher dividend yields than the broader equity market.

The fund may invest in debt securities, including convertible bonds, without any maturity limit and of any credit quality, including high-yield securities.

The fund may also invest in cash, cash equivalents, and derivative instruments.

The fund seeks total return 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 securities of infrastructure companies and concentrates its investments in industries represented by infrastructure companies.

The team favors companies that are estimated to trade below their fair values.

In addition, the team prefers securities of infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, ports, telecommunications and other infrastructure companies, with securities listed on a national or other recognized securities exchange.

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.

Also, the manager invests significantly in infrastructure companies organized or located outside the US or doing a substantial amount of business outside the US.

The manager allocates the fund’s net assets among various regions and countries, including the United States (but in no less than three different countries).

Additionally, the fund has the flexibility to invest in securities of companies with some business activities located in emerging market countries.

Also, the fund is classified as diversified, which means it may invest in a smaller number of issuers than other, more diversified investment portfolios.

The fund seeks total return 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 securities of infrastructure companies and concentrates its investments in industries represented by infrastructure companies.

The team favors companies that are estimated to trade below their fair values.

In addition, the team prefers securities of infrastructure companies, which consist of utilities, pipelines, toll roads, airports, railroads, ports, telecommunications and other infrastructure companies, with securities listed on a national or other recognized securities exchange.

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.

Also, the manager invests significantly in infrastructure companies organized or located outside the US or doing a substantial amount of business outside the US.

The manager allocates the fund’s net assets among various regions and countries, including the United States (but in no less than three different countries).

Additionally, the fund has the flexibility to invest in securities of companies with some business activities located in emerging market countries.

Also, the fund is classified as diversified, which means it may invest in a smaller number of issuers than other, more diversified investment portfolios.

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 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 to provide both capital appreciation and income by investing in small-and mid-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 invests in securities issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

The fund seeks to provide both capital appreciation and income by investing in small-and mid-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 invests in securities issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

The fund seeks to provide both capital appreciation and income by investing in small-and mid-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 invests in securities issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

The fund seeks to provide both capital appreciation and income by investing in small-and mid-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 invests in securities issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

The fund seeks to provide both capital appreciation and income by investing in small-and mid-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 invests in securities issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

The fund seeks to provide both capital appreciation and income by investing in small-and mid-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 invests in securities issued by companies located throughout the world that are engaged in the infrastructure business.

A company is considered to be in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

In selecting securities for the portfolio, the team employs a combination of bottom-up and top-down methodologies.

The bottom-up security selection utilizes proprietary research models to identify infrastructure companies that offer the best value relative to their underlying assets and growth prospects.

The top-down allocation provides exposure to major economic infrastructure sectors and countries, with an overweighting to those sectors/countries that offer the best relative valuation.

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’s investments may include real estate investment trusts and convertible securities.

The fund may invest up to 100% of its net assets in foreign securities, which may include emerging market securities.

Also, the fund invests at least the lesser of 40% of its net assets in the securities of issuers located outside of the United States or an amount of its net assets equal to the approximate percentage of issuers located outside of the United States included in the Index.

If the conditions are not favorable, the fund may invest under 40% of its net assets in the securities of issuers located outside of the United States, provided that the fund will not invest less than 30% of its net assets in such securities except for temporary defensive purposes.

In addition, the fund invests in the securities of issuers from at least three different countries, which may include the United States.

As a fundamental policy, the fund may invest 25% or more of its net assets in the infrastructure industry.

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

The fund manages assets with the help of three sub-advisers. The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.

The sub-advisers are First Sentier Investors (Australia) IM Ltd, Lazard Asset Management LLC, and Maple-Brown Abbott Limited.

Each sub-adviser acts independently from the others and utilizes its own distinct investment style in selecting securities. However, each sub-adviser must operate within the constraints of the fund’s investment objective, strategies and restrictions.

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 infrastructure companies listed on a domestic or foreign exchange.

According to the team, a company is considered to be engaged in the infrastructure business if it derives at least 50% of its revenues or earnings from, or devotes at least 50% of its assets to, infrastructure-related activities.

The team defines infrastructure as the systems and networks of energy, transportation, utilities, communication and other services required for the normal function of society.

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 will invest at least 40%, and may invest up to 100%, of its net assets in the securities of infrastructure companies economically tied to a foreign (non-U.S.) country, including emerging and frontier market countries.

However, the fund estimates to invest a significant portion of its net assets in infrastructure companies operating in the utilities, industrials and/or energy sectors.

Additionally, the fund intends to be fully invested at all times.

Also, the fund is non-diversified, and may invest more of its assets in fewer issuers than diversified mutual funds.

The fund seeks to appreciate capital and earn current income through investing in infrastructure companies in the U.S. and around the world.

The diversified fund invests in owners, developers, brokers, operators of utilities, transportation, communication and services providers including shipping, alternative energy, timber and steel and other resources providers for the construction and maintenance of these physical structures and networks. But, the fund does not own directly real estate.

The fund invests through equity securities of real estate trusts or companies around the world across all market capitalizations.

The investment process focuses on identifying companies with a high quality portfolio of real estate and analyzing development and completion track record.

The companies with a track record of rising cash flow and dividend, strong management and identifiable catalyst that could increase the value of the stock in less than two years are favored by investment managers.

The fund seeks to appreciate capital and earn current income through investing in infrastructure companies in the U.S. and around the world.

The diversified fund invests in owners, developers, brokers, operators of utilities, transportation, communication and services providers including shipping, alternative energy, timber and steel and other resources providers for the construction and maintenance of these physical structures and networks. But, the fund does not own directly real estate.

The fund invests through equity securities of real estate trusts or companies around the world across all market capitalizations.

The investment process focuses on identifying companies with a high quality portfolio of real estate and analyzing development and completion track record.

The companies with a track record of rising cash flow and dividend, strong management and identifiable catalyst that could increase the value of the stock in less than two years are favored by investment managers.

The fund seeks to appreciate capital and earn current income through investing in infrastructure companies in the U.S. and around the world.

The diversified fund invests in owners, developers, brokers, operators of utilities, transportation, communication and services providers including shipping, alternative energy, timber and steel and other resources providers for the construction and maintenance of these physical structures and networks. But, the fund does not own directly real estate.

The fund invests through equity securities of real estate trusts or companies around the world across all market capitalizations.

The investment process focuses on identifying companies with a high quality portfolio of real estate and analyzing development and completion track record.

The companies with a track record of rising cash flow and dividend, strong management and identifiable catalyst that could increase the value of the stock in less than two years are favored by investment managers.

The fund seeks to appreciate capital and earn current income through investing in infrastructure companies in the U.S. and around the world.

The diversified fund invests in owners, developers, brokers, operators of utilities, transportation, communication and services providers including shipping, alternative energy, timber and steel and other resources providers for the construction and maintenance of these physical structures and networks. But, the fund does not own directly real estate.

The fund invests through equity securities of real estate trusts or companies around the world across all market capitalizations.

The investment process focuses on identifying companies with a high quality portfolio of real estate and analyzing development and completion track record.

The companies with a track record of rising cash flow and dividend, strong management and identifiable catalyst that could increase the value of the stock in less than two years are favored by investment managers.

The fund seeks total return 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 securities of domestic and foreign public utilities and energy companies.

According to the team, utilities companies, including those organized as master limited partnerships, are companies involved to a significant extent in providing infrastructure-related products, services or equipment for the generation, transmission or distribution of electricity, gas or water, or telecommunications activities, including broadband and video services.

The team considers energy companies, including those organized as MLPs, as companies involved to a significant extent in infrastructure-related activities, such as the discovery, development, production, generation, transmission, refinement, measurement or distribution of energy.

In selecting securities for the portfolio, the research team focuses on companies that offer the potential for positive total return during a three to five year period on the basis of a company’s market capitalization, balance sheet strength, estimated dividends, and current and estimated earnings and cash flow.

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 at least 25% of its net assets in companies involved to a significant extent in the Utilities and/or Energy Industries.

Also, the fund may invest in municipal utility companies, including rural electric cooperatives and similar organizations.

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

The fund manages assets with the help of three money managers namely Cohen & Steers Capital Management, Inc., Cohen &Steers UK Limited and Cohen & Steers Asia Limited, Nuveen Asset Management, LLC, and First Sentier Investors (Australia) IM Limited.

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

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 engaged in the infrastructure business.

Infrastructure refers to the systems and networks of energy, transportation, communication and other services required for the normal function of society.

Infrastructure companies also include energy-related companies organized as master limited partnerships and their affiliates.

The fund’s money managers provide a model portfolio to Russell Investment Management representing their investment recommendations, based upon which RIM purchases and sells securities for the fund.

RIM manages the fund’s assets not allocated to money manager strategies and invests in securities and instruments which provide the desired exposures.

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 principally invests in securities of infrastructure companies economically tied to a number of countries around the world, including the U.S.

Also, the fund may invest a significant portion of its net assets in non-U.S. securities, including emerging markets securities.

The fund considers emerging market countries to include every country in the world except Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Iceland, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the United Kingdom and the United States.

In addition, the fund may invest in derivative instruments and may utilize derivatives to take both long and short positions.

The fund seeks to generate total return by investing in essential services providers around the world.

The global funds looks for companies operating in sectors providing essential services under government contracts of privately owned. The investment universe includes companies in electric, water or natural gas utilities, railroads, telecoms, road network services operators.

These companies are deemed to perform well regardless of economic conditions with long-term agreement generally protected by government regulation and inflation-linked increases.

The fund is managed by Duff & Phelps Investment Management Company and the investment team looks to build a portfolio of high conviction portfolio of 40 to 60 stocks. The investment process looks for dividend track record and capital appreciation opportunities.  

The fund seeks to generate total return by investing in essential services providers around the world.

The global funds looks for companies operating in sectors providing essential services under government contracts of privately owned. The investment universe includes companies in electric, water or natural gas utilities, railroads, telecoms, road network services operators.

These companies are deemed to perform well regardless of economic conditions with long-term agreement generally protected by government regulation and inflation-linked increases.

The fund is managed by Duff & Phelps Investment Management Company and the investment team looks to build a portfolio of high conviction portfolio of 40 to 60 stocks. The investment process looks for dividend track record and capital appreciation opportunities.  

The fund seeks to generate total return by investing in essential services providers around the world.

The global funds looks for companies operating in sectors providing essential services under government contracts of privately owned. The investment universe includes companies in electric, water or natural gas utilities, railroads, telecoms, road network services operators.

These companies are deemed to perform well regardless of economic conditions with long-term agreement generally protected by government regulation and inflation-linked increases.

The fund is managed by Duff & Phelps Investment Management Company and the investment team looks to build a portfolio of high conviction portfolio of 40 to 60 stocks. The investment process looks for dividend track record and capital appreciation opportunities.  

The fund seeks to generate total return by investing in essential services providers around the world.

The global funds looks for companies operating in sectors providing essential services under government contracts of privately owned. The investment universe includes companies in electric, water or natural gas utilities, railroads, telecoms, road network services operators.

These companies are deemed to perform well regardless of economic conditions with long-term agreement generally protected by government regulation and inflation-linked increases.

The fund is managed by Duff & Phelps Investment Management Company and the investment team looks to build a portfolio of high conviction portfolio of 40 to 60 stocks. The investment process looks for dividend track record and capital appreciation opportunities.