The fund seeks capital appreciation in the long term 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.

Then the research team relies on fundamental analysis to look for companies that are trading at significant discounts to their intrinsic value.

As part of its quantitative assessment, the team evaluates a company’s historical financial statements.

Qualitative factors include corporate governance, country of domicile, level of transparency, industry cycles, brand value, pricing power, product concentration, customer diversification, capital structure, and regulatory risks.

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 40 to 60 securities.

The fund may invest in both developed and emerging markets and generally intends to invest across different countries and geographic regions.

Additionally, the fund may also invest in foreign securities that are represented in the U.S. securities markets by American Depositary Receipts or similar depositary arrangements.

The fund may invest in companies across all market capitalizations, including small-cap companies.
 

The fund seeks capital appreciation in the long term 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.

Then the research team relies on fundamental analysis to look for companies that are trading at significant discounts to their intrinsic value.

As part of its quantitative assessment, the team evaluates a company’s historical financial statements.

Qualitative factors include corporate governance, country of domicile, level of transparency, industry cycles, brand value, pricing power, product concentration, customer diversification, capital structure, and regulatory risks.

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 40 to 60 securities.

The fund may invest in both developed and emerging markets and generally intends to invest across different countries and geographic regions.

Additionally, the fund may also invest in foreign securities that are represented in the U.S. securities markets by American Depositary Receipts or similar depositary arrangements.

The fund may invest in companies across all market capitalizations, including small-cap companies.
 

The fund seeks capital appreciation by investing in mega-and large-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 focuses on non-U.S. securities, including securities of issuers located in emerging markets.

The team favors high-quality companies that are estimated to trade below their fair values relative to factors such as assets, sales, earnings, growth potential, or cash flow, or relative to peers.

Additionally, the team emphasizes companies with financial and balance sheet strength, stable returns on equity, high shareholder remuneration via dividends and/or share buybacks and the ability to generate consistent free cash flows.

In addition, the team evaluates a company’s financial condition and industry position, as well as market and economic conditions.

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

The manager allocates investments across different countries and regions.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets and other investments that are tied economically to emerging markets.

The team favors high-quality companies that are estimated to trade below their fair values relative to factors such as assets, sales, earnings, growth potential, or cash flow, or relative to peers.

In addition, the team evaluates a company’s financial condition and industry position, as well as market and economic conditions.

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

The manager allocates investments across different emerging market countries.
 

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

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers located in, or with significant business, assets, or operations in, countries throughout the world other than the United States.

The team looks to invest in companies from a universe generally consisting of the 1,500 largest non-U.S. companies that it believes are undervalued on the basis of current price to an estimated normal level of earnings.

Then the team narrows the investable universe to a list of companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

Then the research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team favors companies that are trading at a substantial discount to their estimated intrinsic value with superior long-term growth potential.

In addition, the team evaluates a company’s financial health and business prospects, estimated earnings, and a competent management team.

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 generally holds 60 to 80 stocks on the basis of valuation, risk and diversification. 

From time to time, the fund may invest significantly in securities of companies in the same economic sector.

Generally, the manager invests up to 10% of the fund’s portfolio in emerging markets.

According to the investment team, a company is considered to be located in an emerging market country if it is organized under the laws of, or has a principal office in, an emerging country.

Other factors in consideration would be if it has a class of securities whose principal securities market is in an emerging country, or if it derives 50% or more of its total revenue from goods produced, sales made or services provided in one or more emerging countries, or if it maintains 50% or more of its assets in one or more emerging countries.

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

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers located in, or with significant business, assets, or operations in, countries throughout the world other than the United States.

The team looks to invest in companies from a universe generally consisting of the 1,500 largest non-U.S. companies that it believes are undervalued on the basis of current price to an estimated normal level of earnings.

Then the team narrows the investable universe to a list of companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

Then the research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team favors companies that are trading at a substantial discount to their estimated intrinsic value with superior long-term growth potential.

In addition, the team evaluates a company’s financial health and business prospects, estimated earnings, and a competent management team.

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 generally holds 60 to 80 stocks on the basis of valuation, risk and diversification. 

From time to time, the fund may invest significantly in securities of companies in the same economic sector.

Generally, the manager invests up to 10% of the fund’s portfolio in emerging markets.

According to the investment team, a company is considered to be located in an emerging market country if it is organized under the laws of, or has a principal office in, an emerging country.

Other factors in consideration would be if it has a class of securities whose principal securities market is in an emerging country, or if it derives 50% or more of its total revenue from goods produced, sales made or services provided in one or more emerging countries, or if it maintains 50% or more of its assets in one or more emerging countries.

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

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers located in, or with significant business, assets, or operations in, countries throughout the world other than the United States.

The team looks to invest in companies from a universe generally consisting of the 1,500 largest non-U.S. companies that it believes are undervalued on the basis of current price to an estimated normal level of earnings.

Then the team narrows the investable universe to a list of companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

Then the research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team favors companies that are trading at a substantial discount to their estimated intrinsic value with superior long-term growth potential.

In addition, the team evaluates a company’s financial health and business prospects, estimated earnings, and a competent management team.

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 generally holds 60 to 80 stocks on the basis of valuation, risk and diversification. 

From time to time, the fund may invest significantly in securities of companies in the same economic sector.

Generally, the manager invests up to 10% of the fund’s portfolio in emerging markets.

According to the investment team, a company is considered to be located in an emerging market country if it is organized under the laws of, or has a principal office in, an emerging country.

Other factors in consideration would be if it has a class of securities whose principal securities market is in an emerging country, or if it derives 50% or more of its total revenue from goods produced, sales made or services provided in one or more emerging countries, or if it maintains 50% or more of its assets in one or more emerging countries.

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

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers located in, or with significant business, assets, or operations in, countries throughout the world other than the United States.

The team looks to invest in companies from a universe generally consisting of the 1,500 largest non-U.S. companies that it believes are undervalued on the basis of current price to an estimated normal level of earnings.

Then the team narrows the investable universe to a list of companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

Then the research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team favors companies that are trading at a substantial discount to their estimated intrinsic value with superior long-term growth potential.

In addition, the team evaluates a company’s financial health and business prospects, estimated earnings, and a competent management team.

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 generally holds 60 to 80 stocks on the basis of valuation, risk and diversification. 

From time to time, the fund may invest significantly in securities of companies in the same economic sector.

Generally, the manager invests up to 10% of the fund’s portfolio in emerging markets.

According to the investment team, a company is considered to be located in an emerging market country if it is organized under the laws of, or has a principal office in, an emerging country.

Other factors in consideration would be if it has a class of securities whose principal securities market is in an emerging country, or if it derives 50% or more of its total revenue from goods produced, sales made or services provided in one or more emerging countries, or if it maintains 50% or more of its assets in one or more emerging countries.

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

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers located in, or with significant business, assets, or operations in, countries throughout the world other than the United States.

The team looks to invest in companies from a universe generally consisting of the 1,500 largest non-U.S. companies that it believes are undervalued on the basis of current price to an estimated normal level of earnings.

Then the team narrows the investable universe to a list of companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

Then the research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team favors companies that are trading at a substantial discount to their estimated intrinsic value with superior long-term growth potential.

In addition, the team evaluates a company’s financial health and business prospects, estimated earnings, and a competent management team.

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 generally holds 60 to 80 stocks on the basis of valuation, risk and diversification. 

From time to time, the fund may invest significantly in securities of companies in the same economic sector.

Generally, the manager invests up to 10% of the fund’s portfolio in emerging markets.

According to the investment team, a company is considered to be located in an emerging market country if it is organized under the laws of, or has a principal office in, an emerging country.

Other factors in consideration would be if it has a class of securities whose principal securities market is in an emerging country, or if it derives 50% or more of its total revenue from goods produced, sales made or services provided in one or more emerging countries, or if it maintains 50% or more of its assets in one or more emerging countries.

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

The sub-adviser’s investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team invests in securities of issuers located in, or with significant business, assets, or operations in, countries throughout the world other than the United States.

The team looks to invest in companies from a universe generally consisting of the 1,500 largest non-U.S. companies that it believes are undervalued on the basis of current price to an estimated normal level of earnings.

Then the team narrows the investable universe to a list of companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.

Then the research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team favors companies that are trading at a substantial discount to their estimated intrinsic value with superior long-term growth potential.

In addition, the team evaluates a company’s financial health and business prospects, estimated earnings, and a competent management team.

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 generally holds 60 to 80 stocks on the basis of valuation, risk and diversification. 

From time to time, the fund may invest significantly in securities of companies in the same economic sector.

Generally, the manager invests up to 10% of the fund’s portfolio in emerging markets.

According to the investment team, a company is considered to be located in an emerging market country if it is organized under the laws of, or has a principal office in, an emerging country.

Other factors in consideration would be if it has a class of securities whose principal securities market is in an emerging country, or if it derives 50% or more of its total revenue from goods produced, sales made or services provided in one or more emerging countries, or if it maintains 50% or more of its assets in one or more emerging countries.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on companies in foreign developed countries, including foreign subsidiaries of U.S. issuers.

The team employs behavioral based and quantitative screens to identify companies with attractive valuations and looks to capitalize on market inefficiencies.

Further analysis of companies includes evaluation of their momentum and quality characteristics.

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

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

The fund may invest a substantial part of its net assets in just one region or country, or in companies of any one particular market capitalization category.

The fund seeks long-term capital growth by investing in foreign companies.

The fund is sub-advised by MacKay Shields LLC with a focus on finding companies in developed and emerging regions of the world.

The investment process focuses on building a diversified portfolio across sectors, industries and countries to reduce risk. The research team looks for companies that are expected to provide higher total returns that the index. The fund holds a large number of companies based on the quantitative and qualitative model based signals for short periods.

Undervalued companies are owned in the fund and overvalued companies may be selected for short exposure. Net short position may total up to 40% of the fund’s total net assets.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on securities issued by non-US companies.

The team considers a company to be a non-U.S. company if at least 50% of the company’s assets are located outside of the U.S., or at least 50% of the company’s revenue or operating income is generated outside of the U.S., or the company is organized or maintains its principal place of business outside of the U.S.

In addition, the team considers companies that are trading at discounts to their estimated intrinsic values, with the potential to offer superior returns over a full market cycle.

Then the research team employs a dividend discount methodology to estimate companies’ future dividends and discounts them back to their present value.

Additionally, the 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 portfolio is diversified across country, sector, industry, and capitalization.

Also, the fund will invest in companies located in developed countries, but may invest up to 10% of its net assets in emerging market securities.

The fund seeks capital growth by investing in companies in international markets outside the United States. The fund primarily invests in developed regions but may consider investing in emerging markets.

The fund invests in large-size companies that are estimated to trade cheaper than the market or peers for temporary reasons or out of favor with investors or offering simply a better relative value.

The value-analysis focused investment process is designed to identify companies that are financially strong but suffering from the lack of investor interest or are undergoing financial, management, or product portfolio change that may have interrupted historic growth.

The stocks may be out of favor because of the industry it participates in or are simply lagging compared to its peers because of investor apathy or lack of understanding of the business model.

The fund has the flexibility to invest in the benchmark companies but generally invests in large-size companies above the market capitalization of $20 billion.

The fund seeks capital growth by investing in companies in international markets outside the United States. The fund primarily invests in developed regions but may consider investing in emerging markets.

The fund invests in large-size companies that are estimated to trade cheaper than the market or peers for temporary reasons or out of favor with investors or offering simply a better relative value.

The value-analysis focused investment process is designed to identify companies that are financially strong but suffering from the lack of investor interest or are undergoing financial, management, or product portfolio change that may have interrupted historic growth.

The stocks may be out of favor because of the industry it participates in or are simply lagging compared to its peers because of investor apathy or lack of understanding of the business model.

The fund has the flexibility to invest in the benchmark companies but generally invests in large-size companies above the market capitalization of $20 billion.

The fund seeks capital growth by investing in companies in international markets outside the United States. The fund primarily invests in developed regions but may consider investing in emerging markets.

The fund invests in large-size companies that are estimated to trade cheaper than the market or peers for temporary reasons or out of favor with investors or offering simply a better relative value.

The value-analysis focused investment process is designed to identify companies that are financially strong but suffering from the lack of investor interest or are undergoing financial, management, or product portfolio change that may have interrupted historic growth.

The stocks may be out of favor because of the industry it participates in or are simply lagging compared to its peers because of investor apathy or lack of understanding of the business model.

The fund has the flexibility to invest in the benchmark companies but generally invests in large-size companies above the market capitalization of $20 billion.

The fund seeks capital growth by investing in companies in international markets outside the United States. The fund primarily invests in developed regions but may consider investing in emerging markets.

The fund invests in large-size companies that are estimated to trade cheaper than the market or peers for temporary reasons or out of favor with investors or offering simply a better relative value.

The value-analysis focused investment process is designed to identify companies that are financially strong but suffering from the lack of investor interest or are undergoing financial, management, or product portfolio change that may have interrupted historic growth.

The stocks may be out of favor because of the industry it participates in or are simply lagging compared to its peers because of investor apathy or lack of understanding of the business model.

The fund has the flexibility to invest in the benchmark companies but generally invests in large-size companies above the market capitalization of $20 billion.

The fund seeks capital growth by investing in companies in international markets outside the United States. The fund primarily invests in developed regions but may consider investing in emerging markets.

The fund invests in large-size companies that are estimated to trade cheaper than the market or peers for temporary reasons or out of favor with investors or offering simply a better relative value.

The value-analysis focused investment process is designed to identify companies that are financially strong but suffering from the lack of investor interest or are undergoing financial, management, or product portfolio change that may have interrupted historic growth.

The stocks may be out of favor because of the industry it participates in or are simply lagging compared to its peers because of investor apathy or lack of understanding of the business model.

The fund has the flexibility to invest in the benchmark companies but generally invests in large-size companies above the market capitalization of $20 billion.

The fund seeks capital growth by investing in companies in international markets outside the United States. The fund primarily invests in developed regions but may consider investing in emerging markets.

The fund invests in large-size companies that are estimated to trade cheaper than the market or peers for temporary reasons or out of favor with investors or offering simply a better relative value.

The value-analysis focused investment process is designed to identify companies that are financially strong but suffering from the lack of investor interest or are undergoing financial, management, or product portfolio change that may have interrupted historic growth.

The stocks may be out of favor because of the industry it participates in or are simply lagging compared to its peers because of investor apathy or lack of understanding of the business model.

The fund has the flexibility to invest in the benchmark companies but generally invests in large-size companies above the market capitalization of $20 billion.

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in large-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 investable opportunities.

Next, the research team relies on fundamental analysis to look for developed international companies.

The research team also utilizes a sampling methodology to evaluate a company’s performance attributes, tax considerations, capitalization, dividend yield, price/earnings ratio, industry factors, risk factors and other 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 invest a significant portion of its net assets in depositary receipts representing securities of the index; which may be in the form of American Depositary Receipts), Global Depositary Receipts and European Depositary Receipts.

Also, the fund may invest up to 10% of its net assets in securities not included in the index.

The fund may also invest in cash and cash equivalents, including money market funds, and may lend its securities.
 

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.

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

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team focuses on stocks of non-U.S. companies and depositary receipts associated with such stocks.

In selecting securities for the portfolio, the research team focuses on companies that are trading at discounts to their estimated intrinsic value not yet recognized by investors.

In addition, the team evaluates companies on the basis of its earnings and industry growth potential, franchise value, industry leadership, consistency of revenues, and potential for favorable developments.

Other factors in consideration include valuation multiples such as earnings, book value, and cash flow, as well as profitability, enterprise value to EBITDA, and dividend characteristics.

Also, the team categorizes its investments as basic values, consistent earner, and emerging franchise.

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 developing countries.

The fund has the flexibility to invest in companies across any size, but invests primarily in the large and middle capitalization range of publicly traded companies.