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

The fund combines macro-economic review in identifying countries and sectors to invest with the bottom-down stock analysis in picking companies that are likely to offer the most attractive risk-reward profiles.

The fund starts with a list of companies in the benchmark index and then narrows the investable list to a smaller number that meet earnings, growth and return on equity criteria.

The research team then calculates intrinsic valuation for companies using qualitative analysis and future growth outlook. The team selects companies with attractive business models, proven track earnings record and trading at attractive discounts to intrinsic valuation.

The fund favors companies that are priced low in relation to their perceived long-term earnings power.

The fund seeks capital appreciation by investing in companies outside the United States that meet sustainable investment themes.

The fund identifies sustainable investment themes that are broadly consistent with achieving the United Nations Sustainable Development Goals. These goals generally include cleaner and safer environment, positive social impact, and diverse workforce and inclusive culture.

Within this top-down thematic approach, the fund selects companies focusing on valuation, prospective earnings growth, management quality using fundamental research.

The fund is diversified across industries and invests in developed and emerging markets. Normally the fund invests in mid- to large-size companies but has the flexibility to invest across all market capitalizations.

The international fund invests in all developed countries excluding the U.S. and in emerging markets. Investment objective of the fund is to generate positive absolute return over a market cycle in high single-digit.

The fundamental research driven investment process focuses in identifying a list of companies that are expected to outperform the index over a full market cycle. The fund prefers to invest in 25 or fewer stocks across all market caps.

The fund prefers to preserve capital while pursuing its capital gains objective.

The sub-advised multi-cap fund invests in stocks in Japan using a contrarian approach.

The investment process relies on buying stocks when markets are too pessimistic and selling stocks when markets exuberant. The broadly diversified portfolio is constructed with the help of research and portfolio team based in Japan.

About 33% of fund’s asset is allocated to 10 stocks and automotive, construction, electrical equipment and electronics components sectors account for five largest sectors in the fund.

The sub-advised multi-cap fund invests in stocks in Japan using a contrarian approach.

The investment process relies on buying stocks when markets are too pessimistic and selling stocks when markets exuberant. The broadly diversified portfolio is constructed with the help of research and portfolio team based in Japan.

About 33% of fund’s asset is allocated to 10 stocks and automotive, construction, electrical equipment and electronics components sectors account for five largest sectors in the fund.

The sub-advised multi-cap fund invests in stocks in Japan using a contrarian approach.

The investment process relies on buying stocks when markets are too pessimistic and selling stocks when markets exuberant. The broadly diversified portfolio is constructed with the help of research and portfolio team based in Japan.

About 33% of fund’s asset is allocated to 10 stocks and automotive, construction, electrical equipment and electronics components sectors account for five largest sectors in the fund.

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

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

The fund prefers a multi-manager investing approach to manage its assets. Under this approach, the portfolio of the fund is divided into segments managed by individual managers.

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 well-established companies located in emerging markets and developing countries demonstrating the potential for growth and/or to pay dividends.

In addition, the team prefers companies offering superior earnings and dividend-paying capacity.

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 stocks of attractively valued companies that represent good investment opportunities over the long term.
 

The fund seeks capital appreciation in the long-term through investing in companies located in developed markets outside the United States.

The investment process is focused on identifying companies with strong financial statements, established market niches and sustainable revenues and earnings growth in the long-term.

The research team then narrows the list of companies with the help of qualitative analysis and management track record in allocating capital. The company selection for the portfolio is based on stock-by-stock analysis and drives the country, sector and industry allocation.

The fund invests across all market capitalizations and may invest in emerging markets and to a limited extent in the United States and Canada.

The fund seeks capital appreciation in the long-term through investing in companies located in developed markets outside the United States.

The investment process is focused on identifying companies with strong financial statements, established market niches and sustainable revenues and earnings growth in the long-term.

The research team then narrows the list of companies with the help of qualitative analysis and management track record in allocating capital. The company selection for the portfolio is based on stock-by-stock analysis and drives the country, sector and industry allocation.

The fund invests across all market capitalizations and may invest in emerging markets and to a limited extent in the United States and Canada.

The fund seeks capital appreciation in the long-term through investing in companies located in developed markets outside the United States.

The investment process is focused on identifying companies with strong financial statements, established market niches and sustainable revenues and earnings growth in the long-term.

The research team then narrows the list of companies with the help of qualitative analysis and management track record in allocating capital. The company selection for the portfolio is based on stock-by-stock analysis and drives the country, sector and industry allocation.

The fund invests across all market capitalizations and may invest in emerging markets and to a limited extent in the United States and Canada.

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.

As part of its process, the investment team seeks to identify equity instruments of International Issuers.

According to the investment team, an issuer will be considered an international issuer if it is organized, domiciled, or has a principal place of business in a country that is part of the MSCI World ex-USA Index, or if an instrument provides exposure to the change in value of a company that meets that definition.

The strategy pursues a defensive investment style, meaning it seeks to participate in rising equity markets while mitigating downside risk in declining markets.

Next, the research team focuses on stable and financially sound companies with less downside risk 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.

In managing the portfolio, the manager may from time to time utilize certain tax management techniques which consider the potential impact of federal income tax on shareholders’ investment return.

The fund has the flexibility to invest across all market capitalizations but from time to time may invest to a significant extent in small- and mid-cap companies.
 

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.

As part of its process, the investment team seeks to identify equity instruments of International Issuers.

According to the investment team, an issuer will be considered an international issuer if it is organized, domiciled, or has a principal place of business in a country that is part of the MSCI World ex-USA Index, or if an instrument provides exposure to the change in value of a company that meets that definition.

The strategy pursues a defensive investment style, meaning it seeks to participate in rising equity markets while mitigating downside risk in declining markets.

Next, the research team focuses on stable and financially sound companies with less downside risk 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.

In managing the portfolio, the manager may from time to time utilize certain tax management techniques which consider the potential impact of federal income tax on shareholders’ investment return.

The fund has the flexibility to invest across all market capitalizations but from time to time may invest to a significant extent in small- and mid-cap companies.
 

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.

As part of its process, the investment team seeks to identify equity instruments of International Issuers.

According to the investment team, an issuer will be considered an international issuer if it is organized, domiciled, or has a principal place of business in a country that is part of the MSCI World ex-USA Index, or if an instrument provides exposure to the change in value of a company that meets that definition.

The strategy pursues a defensive investment style, meaning it seeks to participate in rising equity markets while mitigating downside risk in declining markets.

Next, the research team focuses on stable and financially sound companies with less downside risk 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.

In managing the portfolio, the manager may from time to time utilize certain tax management techniques which consider the potential impact of federal income tax on shareholders’ investment return.

The fund has the flexibility to invest across all market capitalizations but from time to time may invest to a significant extent in small- and mid-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.

Next, the research team utilizes value, momentum, and other factors to construct the portfolio.

In the value screen, the team relies on valuation multiples such as earnings and book value to identify companies that appear cheap. 

As part of the momentum screen, the team focuses on simple price momentum and foreign exchange rate momentum to look for companies with superior recent performance.

In addition, the team utilizes quantitative strategies to look for stable and financially sound companies, including those with excellent profitability and stable earnings.

In the sentiment strategies, the team favors companies operated by management teams aligned with shareholders’ interests.

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, a portion of the fund’s net assets will be held in cash or cash equivalents including, but not limited to, money market instruments, interests in short-term investment funds or shares of money market or short-term bond funds.

In addition, the fund may have a significant long or short exposure to the U.S. dollar through the implementation of the fund’s principal investment strategies.
 

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 utilizes value, momentum, and other factors to construct the portfolio.

In the value screen, the team relies on valuation multiples such as earnings and book value to identify companies that appear cheap. 

As part of the momentum screen, the team focuses on simple price momentum and foreign exchange rate momentum to look for companies with superior recent performance.

In addition, the team utilizes quantitative strategies to look for stable and financially sound companies, including those with excellent profitability and stable earnings.

In the sentiment strategies, the team favors companies operated by management teams aligned with shareholders’ interests.

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, a portion of the fund’s net assets will be held in cash or cash equivalents including, but not limited to, money market instruments, interests in short-term investment funds or shares of money market or short-term bond funds.

In addition, the fund may have a significant long or short exposure to the U.S. dollar through the implementation of the fund’s principal investment strategies.
 

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 utilizes value, momentum, and other factors to construct the portfolio.

In the value screen, the team relies on valuation multiples such as earnings and book value to identify companies that appear cheap. 

As part of the momentum screen, the team focuses on simple price momentum and foreign exchange rate momentum to look for companies with superior recent performance.

In addition, the team utilizes quantitative strategies to look for stable and financially sound companies, including those with excellent profitability and stable earnings.

In the sentiment strategies, the team favors companies operated by management teams aligned with shareholders’ interests.

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, a portion of the fund’s net assets will be held in cash or cash equivalents including, but not limited to, money market instruments, interests in short-term investment funds or shares of money market or short-term bond funds.

In addition, the fund may have a significant long or short exposure to the U.S. dollar through the implementation of the fund’s principal investment strategies.
 

The fund seeks capital appreciation in the long term by investing in mid-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 utilizes multiple investment styles including value, momentum, and quality to construct the portfolio.

The team emphasizes attractively valued companies that exhibit positive momentum characteristics with stable businesses.

Then in the value screen, the team relies on valuation multiples such as book value and earnings to identify companies that appear cheap.

The team believes a security to have positive momentum if it demonstrates superior medium-term performance relative to its peers.

In addition, the team utilizes quantitative strategies to look for stable and financially sound companies, including those with excellent profitability and stable earnings.

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 will generally invest in developed markets outside of the U.S.

Although the fund does not limit its investments to any one country, it may invest in any one country without limit.

Also, a portion of the fund’s net assets may be held in cash or cash equivalent investments including, but not limited to, short-term investment funds.
 

The fund seeks capital appreciation in the long term by investing in mid-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 utilizes multiple investment styles including value, momentum, and quality to construct the portfolio.

The team emphasizes attractively valued companies that exhibit positive momentum characteristics with stable businesses.

Then in the value screen, the team relies on valuation multiples such as book value and earnings to identify companies that appear cheap.

The team believes a security to have positive momentum if it demonstrates superior medium-term performance relative to its peers.

In addition, the team utilizes quantitative strategies to look for stable and financially sound companies, including those with excellent profitability and stable earnings.

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 will generally invest in developed markets outside of the U.S.

Although the fund does not limit its investments to any one country, it may invest in any one country without limit.

Also, a portion of the fund’s net assets may be held in cash or cash equivalent investments including, but not limited to, short-term investment funds.
 

The fund seeks capital appreciation in the long term by investing in mid-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 utilizes multiple investment styles including value, momentum, and quality to construct the portfolio.

The team emphasizes attractively valued companies that exhibit positive momentum characteristics with stable businesses.

Then in the value screen, the team relies on valuation multiples such as book value and earnings to identify companies that appear cheap.

The team believes a security to have positive momentum if it demonstrates superior medium-term performance relative to its peers.

In addition, the team utilizes quantitative strategies to look for stable and financially sound companies, including those with excellent profitability and stable earnings.

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 will generally invest in developed markets outside of the U.S.

Although the fund does not limit its investments to any one country, it may invest in any one country without limit.

Also, a portion of the fund’s net assets may be held in cash or cash equivalent investments including, but not limited to, short-term investment funds.
 

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

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

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team emphasizes company research and the long-term outlook of companies and industries.

Next, the process includes research trips, company meetings, and relationships with industry thought leaders and academic institutions to evaluate companies.

Additionally, the team assesses a company’s geographic and industry positioning, competitive advantage, management, financial strength and valuation.

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

The portfolio holds approximately between 60 and 90 growth companies with the potential to outperform the benchmark over the long term. The fund aims to hold securities for typically 5 years, which results in relatively low portfolio turnover.

In addition, the manager focuses on companies located in countries of developed and emerging markets.

Generally, the manager seeks companies whose principal activities are in Europe, Australasia and/or the Far East.

The fund has the flexibility to participate in initial public offerings.
 

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

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

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team emphasizes company research and the long-term outlook of companies and industries.

Next, the process includes research trips, company meetings, and relationships with industry thought leaders and academic institutions to evaluate companies.

Additionally, the team assesses a company’s geographic and industry positioning, competitive advantage, management, financial strength and valuation.

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

The portfolio holds approximately between 60 and 90 growth companies with the potential to outperform the benchmark over the long term. The fund aims to hold securities for typically 5 years, which results in relatively low portfolio turnover.

In addition, the manager focuses on companies located in countries of developed and emerging markets.

Generally, the manager seeks companies whose principal activities are in Europe, Australasia and/or the Far East.

The fund has the flexibility to participate in initial public offerings.
 

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

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

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team emphasizes company research and the long-term outlook of companies and industries.

Next, the process includes research trips, company meetings, and relationships with industry thought leaders and academic institutions to evaluate companies.

Additionally, the team assesses a company’s geographic and industry positioning, competitive advantage, management, financial strength and valuation.

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

The portfolio holds approximately between 60 and 90 growth companies with the potential to outperform the benchmark over the long term. The fund aims to hold securities for typically 5 years, which results in relatively low portfolio turnover.

In addition, the manager focuses on companies located in countries of developed and emerging markets.

Generally, the manager seeks companies whose principal activities are in Europe, Australasia and/or the Far East.

The fund has the flexibility to participate in initial public offerings.
 

The fund seeks capital appreciation in the long term 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.

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.

Additionally, the fund may invest in companies through initial public offerings or new issues.

The fund seeks capital appreciation in the long term 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.

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.

Additionally, the fund may invest in companies through initial public offerings or new issues.

The fund seeks capital appreciation in the long term 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.

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.

Additionally, the fund may invest in companies through initial public offerings or new issues.

The fund seeks capital appreciation in the long term 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.

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.

Additionally, the fund may invest in companies through initial public offerings or new issues.

The fund seeks capital appreciation in the long term 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.

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.

Additionally, the fund may invest in companies through initial public offerings or new issues.

The fund seeks 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.

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.

Next, the manager focuses on corporations located in Europe with no limits on the geographic asset distribution of the fund’s investments within Europe.

Other exposure may include, without limitation, investments in companies located in European Union Member States that are likely to join the Eurozone in the foreseeable future and in companies based elsewhere that exercise the predominant par t of their economic activity in Eurozone countries.
 

The fund seeks 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.

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.

Next, the manager focuses on corporations located in Europe with no limits on the geographic asset distribution of the fund’s investments within Europe.

Other exposure may include, without limitation, investments in companies located in European Union Member States that are likely to join the Eurozone in the foreseeable future and in companies based elsewhere that exercise the predominant par t of their economic activity in Eurozone countries.
 

The fund seeks 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.

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.

Next, the manager focuses on corporations located in Europe with no limits on the geographic asset distribution of the fund’s investments within Europe.

Other exposure may include, without limitation, investments in companies located in European Union Member States that are likely to join the Eurozone in the foreseeable future and in companies based elsewhere that exercise the predominant par t of their economic activity in Eurozone countries.
 

The fund seeks 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.

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.

Next, the manager focuses on corporations located in Europe with no limits on the geographic asset distribution of the fund’s investments within Europe.

Other exposure may include, without limitation, investments in companies located in European Union Member States that are likely to join the Eurozone in the foreseeable future and in companies based elsewhere that exercise the predominant par t of their economic activity in Eurozone countries.
 

The fund seeks 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.

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.

Next, the manager focuses on corporations located in Europe with no limits on the geographic asset distribution of the fund’s investments within Europe.

Other exposure may include, without limitation, investments in companies located in European Union Member States that are likely to join the Eurozone in the foreseeable future and in companies based elsewhere that exercise the predominant par t of their economic activity in Eurozone countries.
 

The fund seeks 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 employs a highly defensive investment style to minimize losses at times of perceived high risk.

The team relies on dividend yields, return on equity, and valuation multiples such as earnings to identify companies that meet its investment criteria.

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 manager focuses on companies in the developed countries outside of North America, and may invest up to 20% of the fund’s net assets in the emerging market countries.

In determining where a company is located, the manager relies on the country where the company is incorporated, but also may consider the country where the company’s revenues are derived and the primary market listing for the class of shares to be purchased.

The fund may at times focus its investments in one or more sectors.

The fund seeks 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 employs a highly defensive investment style to minimize losses at times of perceived high risk.

The team relies on dividend yields, return on equity, and valuation multiples such as earnings to identify companies that meet its investment criteria.

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 manager focuses on companies in the developed countries outside of North America, and may invest up to 20% of the fund’s net assets in the emerging market countries.

In determining where a company is located, the manager relies on the country where the company is incorporated, but also may consider the country where the company’s revenues are derived and the primary market listing for the class of shares to be purchased.

The fund may at times focus its investments in one or more sectors.

The fund seeks 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 employs a highly defensive investment style to minimize losses at times of perceived high risk.

The team relies on dividend yields, return on equity, and valuation multiples such as earnings to identify companies that meet its investment criteria.

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 manager focuses on companies in the developed countries outside of North America, and may invest up to 20% of the fund’s net assets in the emerging market countries.

In determining where a company is located, the manager relies on the country where the company is incorporated, but also may consider the country where the company’s revenues are derived and the primary market listing for the class of shares to be purchased.

The fund may at times focus its investments in one or more sectors.

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

The investment process starts with a list of companies in the benchmark index and the research team narrows the opportunity set to those companies that meet earnings, growth, and return on capital hurdles.

The fund invests in companies that are estimated to trade cheaper than their intrinsic valuation at attractive discounts and also considers companies that are growing at faster rates than their peers or market averages.

The stock selection process is designed to construct a diversified portfolio of stocks with a below average price-to-earnings ratio and above-average earnings growth trend to the benchmark index.

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

The investment process starts with a list of companies in the benchmark index and the research team narrows the opportunity set to those companies that meet earnings, growth, and return on capital hurdles.

The fund invests in companies that are estimated to trade cheaper than their intrinsic valuation at attractive discounts and also considers companies that are growing at faster rates than their peers or market averages.

The stock selection process is designed to construct a diversified portfolio of stocks with a below average price-to-earnings ratio and above-average earnings growth trend to the benchmark index.

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

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

The sub-advisers are Baillie Gifford Overseas Limited, BlackRock Investment Management, LLC, Edinburgh Partners Limited, Mondrian Investment Partners Limited, Pzena Investment Management, LLC, and WCM Investment Management, LLC.

Each sub-adviser may use both its own proprietary and external research and securities selection processes to manage its allocated portion of the fund’s assets.

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.

Baillie Gifford Overseas focuses on well managed, quality businesses exhibiting durable competitive advantages in their marketplace.

BlackRock’s process seeks to replicate the performance of the benchmark index.

Edinburgh Partners seeks to identify companies that are estimated to trade below their fair values but have the potential to increase market price over time.

Mondrian relies on fundamental analysis to seek companies that are estimated to trade below their fair values.

Pzena focuses on companies that are trading at a discount to their estimated intrinsic value but have excellent prospects over the long term.

WCM emphasizes companies demonstrating growth in revenue and earnings, with the potential for superior future growth.

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

The manager invests principally in companies in developed countries, but may also invest in companies in emerging markets or developing countries.

Also, the fund may also invest in U.S. dollar-denominated securities issued by foreign entities, American Depositary Receipts, or Global Depositary Receipts.

The fund may also invest a portion of its net assets in securities of real estate investment trusts.

The fund has the flexibility to invest in securities of mid and small capitalization companies.
 

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 focuses on companies which are domiciled in or exercise the predominant part of their economic activity in Europe.

In determining whether a company is domiciled in or exercises the predominant part of its economic activity in Europe, the team will consider country of organization, or primary securities trading market, or location of assets, or country where the company derives at least half of its revenue or profits.

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

The fund may invest up to 20% of its net assets in companies that are established or operating in countries that are considered to be outside of Europe, which may include less developed and emerging markets countries as well as other developed market countries.

Additionally, in order to respond to adverse market, economic, political, or other conditions, the fund may assume a temporary defensive position and invest without limit in cash and prime quality cash equivalents and other money market 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.

Next, the research team focuses on companies which are domiciled in or exercise the predominant part of their economic activity in Europe.

In determining whether a company is domiciled in or exercises the predominant part of its economic activity in Europe, the team will consider country of organization, or primary securities trading market, or location of assets, or country where the company derives at least half of its revenue or profits.

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

The fund may invest up to 20% of its net assets in companies that are established or operating in countries that are considered to be outside of Europe, which may include less developed and emerging markets countries as well as other developed market countries.

Additionally, in order to respond to adverse market, economic, political, or other conditions, the fund may assume a temporary defensive position and invest without limit in cash and prime quality cash equivalents and other money market 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.

Next, the research team focuses on companies which are domiciled in or exercise the predominant part of their economic activity in Europe.

In determining whether a company is domiciled in or exercises the predominant part of its economic activity in Europe, the team will consider country of organization, or primary securities trading market, or location of assets, or country where the company derives at least half of its revenue or profits.

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

The fund may invest up to 20% of its net assets in companies that are established or operating in countries that are considered to be outside of Europe, which may include less developed and emerging markets countries as well as other developed market countries.

Additionally, in order to respond to adverse market, economic, political, or other conditions, the fund may assume a temporary defensive position and invest without limit in cash and prime quality cash equivalents and other money market instruments.
 

The fund seeks high total return by investing in mega-and large-size 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 selects companies that have superior business franchises not fully reflected in current market prices.

The team also looks for companies with a high return on invested capital, durable competitive advantage and/or management teams aligned with shareholders’ interests.

In addition, the team seeks companies that are high or improving in quality.

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 manager invests in foreign companies and the portfolio holds stocks of companies from the constituent countries of the benchmark index.

The fund will invest in at least three different countries.

However, the fund has the flexibility to invest in other countries, including emerging markets stocks.

The fund invests no more than 20% of its net assets in U.S. companies.

Additionally, the fund may invest in American Depositary Receipts and Global Depositary Receipts, and may also lend its securities.
 

The fund seeks high total return by investing in mega-and large-size 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 selects companies that have superior business franchises not fully reflected in current market prices.

The team also looks for companies with a high return on invested capital, durable competitive advantage and/or management teams aligned with shareholders’ interests.

In addition, the team seeks companies that are high or improving in quality.

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 manager invests in foreign companies and the portfolio holds stocks of companies from the constituent countries of the benchmark index.

The fund will invest in at least three different countries.

However, the fund has the flexibility to invest in other countries, including emerging markets stocks.

The fund invests no more than 20% of its net assets in U.S. companies.

Additionally, the fund may invest in American Depositary Receipts and Global Depositary Receipts, and may also lend its securities.
 

The fund seeks high total return by investing in mega-and large-size 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 selects companies that have superior business franchises not fully reflected in current market prices.

The team also looks for companies with a high return on invested capital, durable competitive advantage and/or management teams aligned with shareholders’ interests.

In addition, the team seeks companies that are high or improving in quality.

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 manager invests in foreign companies and the portfolio holds stocks of companies from the constituent countries of the benchmark index.

The fund will invest in at least three different countries.

However, the fund has the flexibility to invest in other countries, including emerging markets stocks.

The fund invests no more than 20% of its net assets in U.S. companies.

Additionally, the fund may invest in American Depositary Receipts and Global Depositary Receipts, and may also lend its securities.
 

The fund seeks high total return by investing in mega-and large-size 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 selects companies that have superior business franchises not fully reflected in current market prices.

The team also looks for companies with a high return on invested capital, durable competitive advantage and/or management teams aligned with shareholders’ interests.

In addition, the team seeks companies that are high or improving in quality.

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 manager invests in foreign companies and the portfolio holds stocks of companies from the constituent countries of the benchmark index.

The fund will invest in at least three different countries.

However, the fund has the flexibility to invest in other countries, including emerging markets stocks.

The fund invests no more than 20% of its net assets in U.S. companies.

Additionally, the fund may invest in American Depositary Receipts and Global Depositary Receipts, and may also lend its securities.
 

The fund seeks to track the performance of the benchmark index by investing in large-size companies in the United States.

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

The passively managed fund is designed to track as closely as possible the Calvert International Responsible Index.

The index is made up of companies selected from the 1,000 largest companies in developed markets, excluding the U.S.

Also, the Index excludes real estate investments trusts and business development companies.

Stocks in the index are weighted based on their float-adjusted market capitalization, by country and by sector.

The research team employs fundamental research to review approximately 200 peer groups using over 300 key performance indicators to measure material environmental, social, and governance factors.

The team also utilizes a sampling methodology or quantitative analysis to obtain a basket of stocks that resembles the index in terms of key risk factors.

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 manager invests in companies that are located in countries (other than the U.S.) with developed markets.

The portfolio holds each security in approximately the same proportion as its weighting in the Index.

The index has about 750 holdings that are reconstituted annually and are rebalanced quarterly.

In addition, the fund has the flexibility to also lend its securities.

The fund seeks to track the performance of the benchmark index by investing in large-size companies in the United States.

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

The passively managed fund is designed to track as closely as possible the Calvert International Responsible Index.

The index is made up of companies selected from the 1,000 largest companies in developed markets, excluding the U.S.

Also, the Index excludes real estate investments trusts and business development companies.

Stocks in the index are weighted based on their float-adjusted market capitalization, by country and by sector.

The research team employs fundamental research to review approximately 200 peer groups using over 300 key performance indicators to measure material environmental, social, and governance factors.

The team also utilizes a sampling methodology or quantitative analysis to obtain a basket of stocks that resembles the index in terms of key risk factors.

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 manager invests in companies that are located in countries (other than the U.S.) with developed markets.

The portfolio holds each security in approximately the same proportion as its weighting in the Index.

The index has about 750 holdings that are reconstituted annually and are rebalanced quarterly.

In addition, the fund has the flexibility to also lend its securities.

The fund seeks total return and capital preservation by investing in mid-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 factors such as quality, valuation, catalyst, and hurdle rate.

The team favors companies that have superior competitive positions within their sector or industry, and offer a track record of innovation and product leadership as well as good pricing and cost discipline.

Also, the team prefers companies exhibiting characteristics such as low leverage and sufficient liquidity.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team relies on valuation multiples such as earnings and book value.

In addition, the research team looks for companies with the presence of near-term catalysts that can change investor perception.

Finally, the team considers companies that have the ability to generate a significant investment return consisting of both capital appreciation and dividend income.

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 between 40 and 50 stocks of foreign companies but may invest in at least three different countries.

The manager considers a company to be a foreign company if 50% of the company’s assets are located outside of the United States, or 50% of the company’s revenues are generated outside of the United States, or the company is domiciled or doing a substantial amount of business outside of the United States.

The majority of these companies operate in established markets, however, the fund may invest up to 25% of its net assets in companies in emerging market countries.

The fund seeks total return and capital preservation by investing in mid-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 factors such as quality, valuation, catalyst, and hurdle rate.

The team favors companies that have superior competitive positions within their sector or industry, and offer a track record of innovation and product leadership as well as good pricing and cost discipline.

Also, the team prefers companies exhibiting characteristics such as low leverage and sufficient liquidity.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team relies on valuation multiples such as earnings and book value.

In addition, the research team looks for companies with the presence of near-term catalysts that can change investor perception.

Finally, the team considers companies that have the ability to generate a significant investment return consisting of both capital appreciation and dividend income.

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 between 40 and 50 stocks of foreign companies but may invest in at least three different countries.

The manager considers a company to be a foreign company if 50% of the company’s assets are located outside of the United States, or 50% of the company’s revenues are generated outside of the United States, or the company is domiciled or doing a substantial amount of business outside of the United States.

The majority of these companies operate in established markets, however, the fund may invest up to 25% of its net assets in companies in 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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team focuses on companies that can maximize expected return.

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 invests in companies economically tied to countries outside of the U.S.

Issuers considered to be economically tied to countries outside of the U.S. include an issuer organized under the laws of or maintaining a principal office or principal place(s) of business outside of the U.S., or an issuer of securities that are principally traded in one or more markets outside the U.S.

The investment team also considers an issuer that derives or is currently expected to derive 50% or more of its total sales, revenues, profits, earnings, growth, or another measure of economic activity from, the production or sale of goods or performance of services or making of investments or other economic activity in, outside of the U.S.

The team also considers issuers that maintains or is currently expected to maintain 50% or more of its employees, assets, investments, operations, or other business activity outside of the U.S. or a governmental or quasi-governmental entity of a country outside of the U.S., or any other issuer that the sub-adviser believes may expose the fund’s assets to the economic fortunes and risks of a country or countries outside of the U.S.

The fund may lend its securities to broker-dealers and other financial institutions to earn additional income.
 

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.

The fund invests in companies both in developed markets, excluding the United States (the international value portfolio) and in emerging markets (the emerging markets portfolio).

Normally, the fund will invest in companies in at least ten foreign countries.

The international value portfolio focuses on mid to large cap value stocks in developed international markets that pay dividends or repurchase their shares.

Next, the research team for the international value portfolio focuses on companies that are trading at a discount to their estimated intrinsic value and are out of favor with investors.

In addition, the team looks for companies that are inexpensive on the basis of earnings, book value, and cash flow, as well as focuses on attributes such as financial strength and high yield.

The fundamental research includes company-specific research, company visits, and interviews of suppliers, customers, competitors, industry analysts, and experts.

For the emerging markets portfolio, the team considers factors relating to valuation, growth, technical indicators, and competitive strength, and top-down factors relating to macroeconomics, currency, country and sector.

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

The manager allocates substantially all of the fund's net assets between the international value portfolio and the emerging markets portfolio utilizing a proprietary asset allocation model.

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.

The fund invests in companies both in developed markets, excluding the United States (the international value portfolio) and in emerging markets (the emerging markets portfolio).

Normally, the fund will invest in companies in at least ten foreign countries.

The international value portfolio focuses on mid to large cap value stocks in developed international markets that pay dividends or repurchase their shares.

Next, the research team for the international value portfolio focuses on companies that are trading at a discount to their estimated intrinsic value and are out of favor with investors.

In addition, the team looks for companies that are inexpensive on the basis of earnings, book value, and cash flow, as well as focuses on attributes such as financial strength and high yield.

The fundamental research includes company-specific research, company visits, and interviews of suppliers, customers, competitors, industry analysts, and experts.

For the emerging markets portfolio, the team considers factors relating to valuation, growth, technical indicators, and competitive strength, and top-down factors relating to macroeconomics, currency, country and sector.

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

The manager allocates substantially all of the fund's net assets between the international value portfolio and the emerging markets portfolio utilizing a proprietary asset allocation model.

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.

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 trading at significant discounts to their intrinsic value for temporary reasons.

Next, the team favors companies with financial strength and stability, and excellent management teams.

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 across international markets, including developed and emerging.

The fund may also invest in  cash  and  cash  equivalents, and has the flexibility to invest up to 20% of its net assets in lower-rated or defaulted debt securities.

Additionally, the fund may also invest up to 10% of its net assets in precious metals such as gold or silver, or in instruments related to such precious metals such as commodity contracts, options on such contracts, structured notes and ETFs.

Also, the fund may engage in securities lending to generate income.

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.

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 trading at significant discounts to their intrinsic value for temporary reasons.

Next, the team favors companies with financial strength and stability, and excellent management teams.

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 across international markets, including developed and emerging.

The fund may also invest in  cash  and  cash  equivalents, and has the flexibility to invest up to 20% of its net assets in lower-rated or defaulted debt securities.

Additionally, the fund may also invest up to 10% of its net assets in precious metals such as gold or silver, or in instruments related to such precious metals such as commodity contracts, options on such contracts, structured notes and ETFs.

Also, the fund may engage in securities lending to generate income.

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.

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 trading at significant discounts to their intrinsic value for temporary reasons.

Next, the team favors companies with financial strength and stability, and excellent management teams.

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 across international markets, including developed and emerging.

The fund may also invest in  cash  and  cash  equivalents, and has the flexibility to invest up to 20% of its net assets in lower-rated or defaulted debt securities.

Additionally, the fund may also invest up to 10% of its net assets in precious metals such as gold or silver, or in instruments related to such precious metals such as commodity contracts, options on such contracts, structured notes and ETFs.

Also, the fund may engage in securities lending to generate income.

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

The fund manages assets with the help of three sub-advisers. The sub-advisers are Arrowstreet Capital, Limited Partnership, Baillie Gifford Overseas Limited, and Causeway Capital Management LLC.

The fund allocates its net assets among different asset managers that utilize various investment styles and strategies to invest in securities of foreign companies.

The sub-advisers make investment decisions for their respective sleeves independently of one another.

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

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

Also, the manager may invest in stocks of non-U.S.-domiciled companies, and may invest in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe.

Additionally, the fund may emphasize one or more sectors in selecting its investments, including the financial services, and industrials sectors.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

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 that are estimated to trade below their fair values with growth potential.

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 in foreign companies, and has the flexibility to invest up to 20% of its net assets in emerging market countries.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe and Japan.

When selecting investments, the fund may emphasize one or more sectors, including the financial services sector.
 

The fund seeks capital appreciation in the long term and 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.

The strategy invests in debt and equity securities of Australian/New Zealand issuers.

The investment team considers an issuer to be an Australian or New Zealand issuer if it issues securities denominated in the local currency of either Australia or New Zealand.

Next, the research team focuses on companies with the potential for capital appreciation and earnings growth, sustainable franchise value, interest or dividend income, and price of a security.

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 from time to time invests different percentages of its assets in Australia and New Zealand, depending on available investment opportunities and economic and market conditions.

The fund may invest in companies that focus on natural resources production, refining and development.

The fund seeks capital appreciation in the long term and 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.

The strategy invests primarily in debt and equity securities of Japanese issuers.

The investment team may also consider an issuer to be a Japanese issuer if it issues securities denominated in the Japanese Yen.

Next, the research team focuses on companies with the potential for capital appreciation and earnings growth, sustainable franchise value, interest or dividend income, and price of a security.

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.

In addition, the fund may purchase American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts.
 

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

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

The fund manages assets with the help of four sub-advisers. The sub-advisers are BAMCO, Inc., MFS Investment Management, T. Rowe Price Associates, Inc., and Wasatch Advisors, Inc.

The fund’s assets are allocated between sub-advisers and exchange-traded funds.

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 employs a number of different investment approaches when making investment decisions.

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 may invest in securities of foreign issuers, including emerging market and frontier market equity securities.

Generally, at least 40% of the fund’s net assets will be invested in the securities of companies that are tied economically to at least three countries outside the U.S.

The fund may also lend portfolio securities to earn additional income.
 

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

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

The fund manages assets with the help of four sub-advisers. The sub-advisers are BAMCO, Inc., MFS Investment Management, T. Rowe Price Associates, Inc., and Wasatch Advisors, Inc.

The fund’s assets are allocated between sub-advisers and exchange-traded funds.

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 employs a number of different investment approaches when making investment decisions.

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 may invest in securities of foreign issuers, including emerging market and frontier market equity securities.

Generally, at least 40% of the fund’s net assets will be invested in the securities of companies that are tied economically to at least three countries outside the U.S.

The fund may also lend portfolio securities to earn additional income.
 

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

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 non-U.S. companies in developed markets, with increased exposure to smaller capitalization, lower relative price, and higher profitability companies.

In assessing relative price, the team relies on valuation multiples such as cash flow or earnings.

However, in assessing profitability, the team considers ratios of earnings or profits from operations relative to book value or assets.

Also, the team assesses companies on factors such as free float, momentum, trading strategies, liquidity, size, relative price, profitability, and investment characteristics.

Additionally, in assessing a company’s investment characteristics, the team considers ratios such as recent changes in assets divided by total assets.

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 lend its portfolio securities to generate additional income.
 

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

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 non-U.S. companies in developed markets, with increased exposure to smaller capitalization, lower relative price, and higher profitability companies.

In assessing relative price, the team relies on valuation multiples such as cash flow or earnings.

However, in assessing profitability, the team considers ratios of earnings or profits from operations relative to book value or assets.

Also, the team assesses companies on factors such as free float, momentum, trading strategies, liquidity, size, relative price, profitability, and investment characteristics.

Additionally, in assessing a company’s investment characteristics, the team considers ratios such as recent changes in assets divided by total assets.

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 excludes companies that earn at least 20% of their total annual revenue through the production and/or sale of conventional or nuclear weapons, or are engaged in business activities in or with the Republic of the Sudan, or earn at least 15% of their total annual revenue through the production and/or sale of tobacco, alcohol, or cannabis products, or earn at least 20% of their total annual revenue from certain gambling activities.

Other social screens include excluding companies that directly participate in abortions, or earn at least 15% of their total annual revenue from the rental, sale, distribution or production of pornographic materials, or are involved in the production or manufacture of landmines or civilian firearms, or have had major recent controversies relating to child labor infractions in the U.S. or abroad.

Finally, as part of its social issue screens, the portfolio avoids companies that are involved in stem cell research, or have high carbon or greenhouse gas emissions, or have meaningful exposure to coal.

The fund may lend its portfolio securities to generate additional income.

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

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 non-U.S. companies in developed markets, with increased exposure to smaller capitalization, lower relative price, and higher profitability companies.

In assessing relative price, the team relies on valuation multiples such as cash flow or earnings.

However, in assessing profitability, the team considers ratios of earnings or profits from operations relative to book value or assets.

Also, the team assesses companies on factors such as free float, momentum, trading strategies, liquidity, size, relative price, profitability and investment characteristics.

Additionally, in assessing a company’s investment characteristics, the team considers ratios such as recent changes in assets divided by total assets.

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 also considers the impact that companies may have on the environment and other sustainability considerations when making investment decisions.

In considering sustainability impact, the manager may consider carbon and other greenhouse emissions, land use, cluster munitions manufacturing, landmine manufacturing, civilian firearms manufacturing, biodiversity, involvement in toxic spills or releases, operational waste, water use, tobacco, palm oil, coal, child labor, and factory farming activities.

In particular, the portfolio may exclude companies that have high carbon or greenhouse gas emissions or reserves that may produce those emissions.

The fund may lend its portfolio securities to generate additional income.

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

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 non-U.S. companies in countries with developed and emerging markets, with increased exposure to smaller capitalization, lower relative price, and higher profitability companies.

In assessing relative price, the team relies on valuation multiples such as cash flow or earnings.

However, in assessing profitability, the team considers ratios of earnings or profits from operations relative to book value or assets.

Also, the team evaluates companies on factors such as free float, momentum, trading strategies, liquidity, size, relative price, profitability, and investment characteristics.

Additionally, in assessing a company’s investment characteristics, the team considers ratios such as recent changes in assets divided by total assets.

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 lend its portfolio securities to generate additional income.
 

The fund seeks total return in the long term by investing in mid-and large-size 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 evaluates a company’s core business, environmental and social factors.

The team also assesses how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national and global communities, and/or investors.

Next, the team narrows the investable universe to a list of companies that create positive environmental and social outcomes for people and the planet while seeking competitive financial returns.

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 focuses on companies located in Europe, the Asia-Pacific region, and throughout the rest of the world.

Generally, the fund’s investments will be tied economically to at least 10 different countries other than the U.S.

Also, at least 40% of the fund’s net assets will be invested in companies tied economically to countries outside the U.S.

The fund invests in companies tied economically to developed market countries throughout the world, but may invest up to 10% of its net assets in securities of issuers tied economically to emerging market countries.

Additionally, the Fund may have significant exposure to securities of issuers tied economically to Japan, Switzerland, France and the United Kingdom.

The fund may have significant exposure to securities of issuers in the health care, industrial, financial, information technology and consumer discretionary sectors.

The fund has the flexibility to invest across all market capitalizations.
 

The fund seeks total return in the long term by investing in mid-and large-size 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 evaluates a company’s core business, environmental and social factors.

The team also assesses how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national and global communities, and/or investors.

Next, the team narrows the investable universe to a list of companies that create positive environmental and social outcomes for people and the planet while seeking competitive financial returns.

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 focuses on companies located in Europe, the Asia-Pacific region, and throughout the rest of the world.

Generally, the fund’s investments will be tied economically to at least 10 different countries other than the U.S.

Also, at least 40% of the fund’s net assets will be invested in companies tied economically to countries outside the U.S.

The fund invests in companies tied economically to developed market countries throughout the world, but may invest up to 10% of its net assets in securities of issuers tied economically to emerging market countries.

Additionally, the Fund may have significant exposure to securities of issuers tied economically to Japan, Switzerland, France and the United Kingdom.

The fund may have significant exposure to securities of issuers in the health care, industrial, financial, information technology and consumer discretionary sectors.

The fund has the flexibility to invest across all market capitalizations.
 

The fund seeks total return in the long term by investing in mid-and large-size 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 evaluates a company’s core business, environmental and social factors.

The team also assesses how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national and global communities, and/or investors.

Next, the team narrows the investable universe to a list of companies that create positive environmental and social outcomes for people and the planet while seeking competitive financial returns.

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 focuses on companies located in Europe, the Asia-Pacific region, and throughout the rest of the world.

Generally, the fund’s investments will be tied economically to at least 10 different countries other than the U.S.

Also, at least 40% of the fund’s net assets will be invested in companies tied economically to countries outside the U.S.

The fund invests in companies tied economically to developed market countries throughout the world, but may invest up to 10% of its net assets in securities of issuers tied economically to emerging market countries.

Additionally, the Fund may have significant exposure to securities of issuers tied economically to Japan, Switzerland, France and the United Kingdom.

The fund may have significant exposure to securities of issuers in the health care, industrial, financial, information technology and consumer discretionary sectors.

The fund has the flexibility to invest across all market capitalizations.
 

The fund seeks total return in the long term by investing in mid-and large-size 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 evaluates a company’s core business, environmental and social factors.

The team also assesses how a company treats its key stakeholders, such as its customers, employees, suppliers, ecosystems, local, national and global communities, and/or investors.

Next, the team narrows the investable universe to a list of companies that create positive environmental and social outcomes for people and the planet while seeking competitive financial returns.

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 focuses on companies located in Europe, the Asia-Pacific region, and throughout the rest of the world.

Generally, the fund’s investments will be tied economically to at least 10 different countries other than the U.S.

Also, at least 40% of the fund’s net assets will be invested in companies tied economically to countries outside the U.S.

The fund invests in companies tied economically to developed market countries throughout the world, but may invest up to 10% of its net assets in securities of issuers tied economically to emerging market countries.

Additionally, the Fund may have significant exposure to securities of issuers tied economically to Japan, Switzerland, France and the United Kingdom.

The fund may have significant exposure to securities of issuers in the health care, industrial, financial, information technology and consumer discretionary sectors.

The fund has the flexibility to invest across all market capitalizations.
 

The fund seeks capital appreciation by investing in other international funds managed by the advisor.

The fund is designed to provide diversification by investing in other international funds selected by the manager among other things including historical performance, holdings, investment objectives and risk/reward profiles.

The fund currently holds investments in five funds. About 35% of assets are allocated to BNY Mellon International Stock Fund Class Y, 35% to BNY Mellon International Core Equity Fund Class Y, 20% to BNY Mellon International Equity Fund Class Y, about 6% to BNY Mellon International Small Cap Fund Class Y, and about 4% to BNY Mellon Emerging Markets Small Cap Securities Fund Class Y.

The fund seeks capital appreciation by investing in other international funds managed by the advisor.

The fund is designed to provide diversification by investing in other international funds selected by the manager among other things including historical performance, holdings, investment objectives and risk/reward profiles.

The fund currently holds investments in five funds. About 35% of assets are allocated to BNY Mellon International Stock Fund Class Y, 35% to BNY Mellon International Core Equity Fund Class Y, 20% to BNY Mellon International Equity Fund Class Y, about 6% to BNY Mellon International Small Cap Fund Class Y, and about 4% to BNY Mellon Emerging Markets Small Cap Securities Fund Class Y.

The fund seeks capital appreciation by investing in other international funds managed by the advisor.

The fund is designed to provide diversification by investing in other international funds selected by the manager among other things including historical performance, holdings, investment objectives and risk/reward profiles.

The fund currently holds investments in five funds. About 35% of assets are allocated to BNY Mellon International Stock Fund Class Y, 35% to BNY Mellon International Core Equity Fund Class Y, 20% to BNY Mellon International Equity Fund Class Y, about 6% to BNY Mellon International Small Cap Fund Class Y, and about 4% to BNY Mellon Emerging Markets Small Cap Securities Fund Class Y.

The fund seeks capital appreciation by investing in other international funds managed by the advisor.

The fund is designed to provide diversification by investing in other international funds selected by the manager among other things including historical performance, holdings, investment objectives and risk/reward profiles.

The fund currently holds investments in five funds. About 35% of assets are allocated to BNY Mellon International Stock Fund Class Y, 35% to BNY Mellon International Core Equity Fund Class Y, 20% to BNY Mellon International Equity Fund Class Y, about 6% to BNY Mellon International Small Cap Fund Class Y, and about 4% to BNY Mellon Emerging Markets Small Cap Securities Fund Class Y.

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

The fund starts with a list of companies available in the benchmark index and Canada and with the help of financial screens and quantitative research narrows the investable universe that meet earnings, growth and return on capital hurdles.

Next, the research team with the help of quantitative research identifies drivers and durability of earnings and evaluates the sustainability of business models.

The fund favors companies that are growing earnings at above-average rate, established market leaders and are trading at reasonable prices.

The fund maintains country, region and sector weights that are reflected in the benchmark index.

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

The fund starts with a list of companies available in the benchmark index and Canada and with the help of financial screens and quantitative research narrows the investable universe that meet earnings, growth and return on capital hurdles.

Next, the research team with the help of quantitative research identifies drivers and durability of earnings and evaluates the sustainability of business models.

The fund favors companies that are growing earnings at above-average rate, established market leaders and are trading at reasonable prices.

The fund maintains country, region and sector weights that are reflected in the benchmark index.

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

The fund starts with a list of companies available in the benchmark index and Canada and with the help of financial screens and quantitative research narrows the investable universe that meet earnings, growth and return on capital hurdles.

Next, the research team with the help of quantitative research identifies drivers and durability of earnings and evaluates the sustainability of business models.

The fund favors companies that are growing earnings at above-average rate, established market leaders and are trading at reasonable prices.

The fund maintains country, region and sector weights that are reflected in the benchmark index.

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

The fund starts with a list of companies available in the benchmark index and Canada and with the help of financial screens and quantitative research narrows the investable universe that meet earnings, growth and return on capital hurdles.

Next, the research team with the help of quantitative research identifies drivers and durability of earnings and evaluates the sustainability of business models.

The fund favors companies that are growing earnings at above-average rate, established market leaders and are trading at reasonable prices.

The fund maintains country, region and sector weights that are reflected in the benchmark index.

The fund seeks capital gains by investing in international markets.

The fund generally invests in all stocks included in the index. The fund’s investments are selected to match the benchmark composition in companies, countries, industries and sectors.  

The MSCI EAFE Index, the fund’s benchmark, is an unmanaged, free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada.

Each stock in the index is weighted by its float-adjusted market capitalization.

The fund seeks capital gains by investing in international markets.

The fund generally invests in all stocks included in the index. The fund’s investments are selected to match the benchmark composition in companies, countries, industries and sectors.  

The MSCI EAFE Index, the fund’s benchmark, is an unmanaged, free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. and Canada.

Each stock in the index is weighted by its float-adjusted market capitalization.

The fund seeks capital appreciation by investing in companies that are expected to benefit from the Womenomics initiative in Japan.

Womenomics is a government policy that encourages more women participation in the workforce, close the salary gap, and promotes more women in decision making roles and positions. With higher women participation, Japan hopes to tackle its shrinking labor force.

The fund focuses on companies that are actively promoting these policies or are determined or have announced plans to increase hiring and promoting of women in leadership positions in the workplace.

The fund’s investment process combines fundamental research and securities valuation with the Womenomics growth theme. The fund favors companies with above-average earnings growth potential in the long term that are trading at attractive valuations and management that are pursuing initiatives to promote women in leadership positions.

The fund seeks capital appreciation by investing in companies that are expected to benefit from the Womenomics initiative in Japan.

Womenomics is a government policy that encourages more women participation in the workforce, close the salary gap, and promotes more women in decision making roles and positions. With higher women participation, Japan hopes to tackle its shrinking labor force.

The fund focuses on companies that are actively promoting these policies or are determined or have announced plans to increase hiring and promoting of women in leadership positions in the workplace.

The fund’s investment process combines fundamental research and securities valuation with the Womenomics growth theme. The fund favors companies with above-average earnings growth potential in the long term that are trading at attractive valuations and management that are pursuing initiatives to promote women in leadership positions.

The fund seeks capital appreciation by investing in companies that are expected to benefit from the Womenomics initiative in Japan.

Womenomics is a government policy that encourages more women participation in the workforce, close the salary gap, and promotes more women in decision making roles and positions. With higher women participation, Japan hopes to tackle its shrinking labor force.

The fund focuses on companies that are actively promoting these policies or are determined or have announced plans to increase hiring and promoting of women in leadership positions in the workplace.

The fund’s investment process combines fundamental research and securities valuation with the Womenomics growth theme. The fund favors companies with above-average earnings growth potential in the long term that are trading at attractive valuations and management that are pursuing initiatives to promote women in leadership positions.

The fund seeks capital appreciation by investing in companies that are expected to benefit from the Womenomics initiative in Japan.

Womenomics is a government policy that encourages more women participation in the workforce, close the salary gap, and promotes more women in decision making roles and positions. With higher women participation, Japan hopes to tackle its shrinking labor force.

The fund focuses on companies that are actively promoting these policies or are determined or have announced plans to increase hiring and promoting of women in leadership positions in the workplace.

The fund’s investment process combines fundamental research and securities valuation with the Womenomics growth theme. The fund favors companies with above-average earnings growth potential in the long term that are trading at attractive valuations and management that are pursuing initiatives to promote women in leadership positions.

The fund seeks to maximize total return from capital appreciation and dividends 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 focuses in stock of non-U.S. companies in at least three foreign countries, which may include companies located or operating in established or emerging market countries.

The team defines a non-U.S. company as one that is domiciled, has its principal place of business, derives at least 50% of its revenue or profits, or has at least 50% of its assets outside the U.S.

Generally, the team invests in Western Europe, the United Kingdom, Japan, Canada, Australia and Asia.

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

The fund seeks to maximize total return from capital appreciation and dividends 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 focuses in stock of non-U.S. companies in at least three foreign countries, which may include companies located or operating in established or emerging market countries.

The team defines a non-U.S. company as one that is domiciled, has its principal place of business, derives at least 50% of its revenue or profits, or has at least 50% of its assets outside the U.S.

Generally, the team invests in Western Europe, the United Kingdom, Japan, Canada, Australia and Asia.

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

The fund seeks to maximize total return from capital appreciation and dividends 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 focuses in stock of non-U.S. companies in at least three foreign countries, which may include companies located or operating in established or emerging market countries.

The team defines a non-U.S. company as one that is domiciled, has its principal place of business, derives at least 50% of its revenue or profits, or has at least 50% of its assets outside the U.S.

Generally, the team invests in Western Europe, the United Kingdom, Japan, Canada, Australia and Asia.

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 objective is to appreciate capital in the long-term by investing in companies outside the United States.

The investment process is based on a belief that the cash flow driven accounting metrics and ratios provide better insights than the traditional accounting based metrics to the company’s valuation, performance and health.  

The fund only invests from the universe of approximately 400 largest companies located outside of North America in the database of CROCI Investment Strategy and Valuation Group, a unit within the DWS Group. The fund has a licensing arrangement with the unit.

Geographically, the fund is diversified and investments in Japan, France, U.K., Germany and Switzerland account for about 75% of total.

The fund’s objective is to appreciate capital in the long-term by investing in companies outside the United States.

The investment process is based on a belief that the cash flow driven accounting metrics and ratios provide better insights than the traditional accounting based metrics to the company’s valuation, performance and health.  

The fund only invests from the universe of approximately 400 largest companies located outside of North America in the database of CROCI Investment Strategy and Valuation Group, a unit within the DWS Group. The fund has a licensing arrangement with the unit.

Geographically, the fund is diversified and investments in Japan, France, U.K., Germany and Switzerland account for about 75% of total.

The fund’s objective is to appreciate capital in the long-term by investing in companies outside the United States.

The investment process is based on a belief that the cash flow driven accounting metrics and ratios provide better insights than the traditional accounting based metrics to the company’s valuation, performance and health.  

The fund only invests from the universe of approximately 400 largest companies located outside of North America in the database of CROCI Investment Strategy and Valuation Group, a unit within the DWS Group. The fund has a licensing arrangement with the unit.

Geographically, the fund is diversified and investments in Japan, France, U.K., Germany and Switzerland account for about 75% of total.

The fund’s objective is to appreciate capital in the long-term by investing in companies outside the United States.

The investment process is based on a belief that the cash flow driven accounting metrics and ratios provide better insights than the traditional accounting based metrics to the company’s valuation, performance and health.  

The fund only invests from the universe of approximately 400 largest companies located outside of North America in the database of CROCI Investment Strategy and Valuation Group, a unit within the DWS Group. The fund has a licensing arrangement with the unit.

Geographically, the fund is diversified and investments in Japan, France, U.K., Germany and Switzerland account for about 75% of total.

The fund’s objective is to appreciate capital in the long-term by investing in companies outside the United States.

The investment process is based on a belief that the cash flow driven accounting metrics and ratios provide better insights than the traditional accounting based metrics to the company’s valuation, performance and health.  

The fund only invests from the universe of approximately 400 largest companies located outside of North America in the database of CROCI Investment Strategy and Valuation Group, a unit within the DWS Group. The fund has a licensing arrangement with the unit.

Geographically, the fund is diversified and investments in Japan, France, U.K., Germany and Switzerland account for about 75% of total.

The fund’s objective is to appreciate capital in the long-term by investing in companies outside the United States.

The investment process is based on a belief that the cash flow driven accounting metrics and ratios provide better insights than the traditional accounting based metrics to the company’s valuation, performance and health.  

The fund only invests from the universe of approximately 400 largest companies located outside of North America in the database of CROCI Investment Strategy and Valuation Group, a unit within the DWS Group. The fund has a licensing arrangement with the unit.

Geographically, the fund is diversified and investments in Japan, France, U.K., Germany and Switzerland account for about 75% of total.

The fund seeks capital appreciation in the long term 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 securities of Canadian issuers and other investments that are tied economically to Canada.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Canadian market.

The fund seeks capital appreciation in the long term 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 securities of Canadian issuers and other investments that are tied economically to Canada.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Canadian market.

The fund seeks capital appreciation in the long term 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 securities of Canadian issuers and other investments that are tied economically to Canada.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Canadian market.

The fund seeks capital appreciation in the long term 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 securities of Canadian issuers and other investments that are tied economically to Canada.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Canadian market.

The fund seeks capital appreciation in the long term 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.

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 utilizes the benchmark index as a guide in allocating investments across foreign developed and emerging markets, including investments in growth and value stocks, and securities of companies with small market capitalizations.
 

The fund seeks capital appreciation in the long term 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.

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 utilizes the benchmark index as a guide in allocating investments across foreign developed and emerging markets, including investments in growth and value stocks, and securities of companies with small market capitalizations.
 

The fund seeks capital appreciation in the long term 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.

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 utilizes the benchmark index as a guide in allocating investments across foreign developed and emerging markets, including investments in growth and value stocks, and securities of companies with small market capitalizations.
 

The fund seeks capital appreciation in the long term 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.

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 utilizes the benchmark index as a guide in allocating investments across foreign developed and emerging markets, including investments in growth and value stocks, and securities of companies with small market capitalizations.
 

The fund seeks capital appreciation in the long term 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.

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 utilizes the benchmark index as a guide in allocating investments across foreign developed and emerging markets, including investments in growth and value stocks, and securities of companies with small market capitalizations.
 

The fund seeks capital appreciation in the long term 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 securities of Canadian issuers and other investments that are tied economically to Canada.

The team prefers companies with excellent and steady returns and high payback to shareholders trading at attractive valuations.

Additionally, the team believes that long-term value is often mispriced by a short-term-focused market.

Overall, the fund focuses on good businesses at attractive valuations operated by management teams aligned with shareholders’ interests.

The team emphasizes companies with a track record of delivering high investment returns and the capacity to sustain or improve cash payouts to shareholders.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Canadian market.
 

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, that is stocks from foreign developed markets.

The team prefers high-quality businesses with sustainable or improving growth prospects that are benefiting from competitive advantages and are structured to achieve consistent profitability.

Also, the team favors companies with balance sheet strength, proven performance history, high returns on capital and capable management teams aligned with shareholders’ interests.

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, that is stocks from foreign developed markets.

The team prefers high-quality businesses with sustainable or improving growth prospects that are benefiting from competitive advantages and are structured to achieve consistent profitability.

Also, the team favors companies with balance sheet strength, proven performance history, high returns on capital and capable management teams aligned with shareholders’ interests.

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, that is stocks from foreign developed markets.

The team prefers high-quality businesses with sustainable or improving growth prospects that are benefiting from competitive advantages and are structured to achieve consistent profitability.

Also, the team favors companies with balance sheet strength, proven performance history, high returns on capital and capable management teams aligned with shareholders’ interests.

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 in the long term 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 focuses on securities of European issuers and other investments that are tied economically to Europe.

The team believes that return on capital and free-cash-flow generation drive stock price over the long term.

Also, the team favors companies with excellent management teams and franchises, and that generate returns above their cost of capital over a market cycle.

The team also focuses on companies that are lagging in market price for temporary reasons and are trading at a discount to their estimated intrinsic value and whose future earnings power is not reflected in their current valuations.

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 European countries.
 

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on securities included in the benchmark index and in depository receipts representing securities included in the index.

The fund employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth, country weightings, and the effect of foreign taxes.

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 focuses on securities of foreign developed and emerging stock markets.

The fund has the flexibility to lend securities to earn income.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on securities included in the benchmark index and in depository receipts representing securities included in the index.

The team employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth, country weightings, and the effect of foreign taxes.

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 relies on historical data and correlations to build a portfolio of securities that replicate the composition and characteristics of the benchmark index.

Also, the manager focuses on securities of foreign developed and emerging stock markets.

The fund has the flexibility to lend securities to earn income.
 

The fund seeks capital appreciation by investing in mega-and large-size 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 utilizes quantitative analysis of historical valuation, growth, and profitability to select stocks that demonstrate a higher total return potential than that of the benchmark index.

Also, the team employs multifactor statistical models to select companies with improving fundamentals and that are trading at reasonable valuations.

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

The fund has the flexibility to lend securities to earn income.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on securities included in the benchmark index, which represents the performance of foreign stock markets.

The team employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth and country weightings.

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

The fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

Also, the fund has the flexibility to lend securities to earn income.
 

The fund seeks capital appreciation in the long term 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 focuses on securities of Japanese issuers, and other investments that are tied economically to Japan.

The team favors companies that have the ability to improve their returns on equity over time.

When selecting securities, the team looks for good businesses that are attractively priced relative to the market and that are benefiting from new market development, evolving capital structures, efficiency improvements, pricing power or a change in management incentives.

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 portfolio holds approximately between 70 and 100 holdings.
 

The fund seeks capital appreciation in the long term 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 focuses on securities of Danish, Finnish, Norwegian, and Swedish issuers and other investments that are tied economically to the Nordic region.

The team believes that return on capital and free-cash-flow generation drive stock price over the long term.

Also, the team favors companies with excellent management teams and franchises, and that generate returns above their cost of capital over a market cycle.

The team also focuses on companies that are lagging in market price for temporary reasons and are trading at a discount to their estimated intrinsic value and whose future earnings power is not reflected in their current valuations.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Nordic market.

Additionally, the manager allocates investments across different Nordic countries.

The fund seeks capital appreciation in the long term 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.

The team prefers high-quality companies trading at attractive prices that can outperform the market over the long term.

Additionally, the team favors companies with unique business models that demonstrate the ability to generate sustainably high returns on capital through a full business cycle.

Also, the team assesses if these companies are trading at a discount to their estimated intrinsic value.

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 in the long term 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.

The team prefers high-quality companies trading at attractive prices that can outperform the market over the long term.

Additionally, the team favors companies with unique business models that demonstrate the ability to generate sustainably high returns on capital through a full business cycle.

Also, the team assesses if these companies are trading at a discount to their estimated intrinsic value.

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 in the long term by investing in companies outside the United States.

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 Pacific Basin issuers and other investments that are tied economically to the Pacific Basin.

The team believes investor psychology, market microstructure and asymmetric information lead to mispricings.

Now, the team looks to capitalize on these market inefficiencies that create opportunities for active management.

In addition, the team is of the view that owning durable growth companies increases the likelihood of adding value over the long term.

Also, the team focuses on companies with high potential for structural growth, excellent free cash flow and sustainable high returns driven by superior business models and proven management teams.

Additionally, 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 Pacific Basin countries.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on securities, which represents the performance of foreign stock markets.

The team employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth and country weightings.

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 has the flexibility to lend securities to earn income.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on companies that in the aggregate have lower volatility relative to the broader foreign developed equity markets.

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

Also, the fund has the flexibility to lend securities to earn income.
 

The fund seeks capital appreciation in the long term 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 securities of Canadian issuers and other investments that are tied economically to Canada.

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 has the flexibility to Invest up to 35% of the fund’s net assets in any industry that accounts for more than 20% of the Canadian market.
 

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on securities and in depository receipts representing securities included in the index.

The team employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth and country weightings.

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 has the flexibility to lend securities to earn income.
 

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 focuses on securities, which represents the performance of foreign stock markets.

The team employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth and country weightings.

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 has the flexibility to lend securities to earn income.

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

The fund employs a multi-manager investment strategy to invest directly in securities through sub-advisers or indirectly through underlying funds, which in turn invest directly in securities.

The sub-advisers are FIAM LLC and Geode Capital Management, LLC.

FIL Investment Advisors (UK) Limited serves as a sub-sub-adviser for the fund.

The fund emphasizes prudent manager selection as it believes that different investment strategies may outperform at different times over a full market cycle, and that combining these investment disciplines may result in a more consistent performance profile.

Also, the strategy relies on the distinctive skills of a variety of managers for diversification and more flexibility to invest more adeptly throughout the market cycle, and potentially allow for better risk management.

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 non-U.S. securities, including securities of issuers located in emerging markets.

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

In addition, the manager allocates assets among underlying funds and sub-advisers to diversify the portfolio in terms of market capitalization, investment style, and geographic region.

Next, the manager allocates assets among underlying funds considering factors such as fund performance, manager experience and investment style, and fund characteristics such as expense ratio, asset size, and portfolio turnover.

Additionally, the manager allocates assets among sub-advisers considering their investment approach, and portfolio, and performance patterns in different market environments.

Also, the manager allocates investments across different countries and regions.

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

The fund employs a multi-manager investment strategy to invest directly in securities through sub-advisers or indirectly through underlying funds, which in turn invest directly in securities.

The sub-advisers are Arrowstreet Capital, Limited Partnership, Causeway Capital Management LLC, FIAM LLC, FIL Investment Advisors, Geode Capital Management, LLC, Massachusetts Financial Services Company, T. Rowe Price Associates, Inc., Thompson, Siegel & Walmsley, LLC, and William Blair Investment Management, LLC.

FIL Investment Advisors (UK) Limited serves as a sub-sub-adviser for the fund.

The fund emphasizes prudent manager selection as it believes that different investment strategies may outperform at different times over a full market cycle, and that combining these investment disciplines may result in a more consistent performance profile.

Also, the strategy relies on the distinctive skills of a variety of managers for diversification and more flexibility to invest more adeptly throughout the market cycle, and potentially allow for better risk management.

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 non-U.S. securities, including securities of issuers located in emerging markets.

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

In addition, the manager allocates assets among underlying funds and sub-advisers to diversify the portfolio in terms of market capitalization, investment style, and geographic region.

Also, the manager allocates assets among affiliated international funds and non-affiliated international funds that participate in Fidelity's FundsNetwork, and non-affiliated exchange traded funds and sub-advisers. 

Next, the manager allocates assets among underlying funds considering factors such as fund performance, manager experience and investment style, and management company infrastructure and fund characteristics such as expense ratio, asset size, and portfolio turnover.

Additionally, the manager allocates assets among sub-advisers considering their investment approach, and portfolio, and performance patterns in different market environments.

Also, the manager allocates investments across different countries and regions.

The fund provides diversified exposure to multiple investment vehicles including sub-advised strategies, mutual funds and exchange-traded funds.
 

The fund seeks capital appreciation in the long term 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.

The team favors companies with high returns on invested capital, excellent free cash flow, clean corporate governance and attractive valuations.

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 divides the portfolio into four subportfolios that include developed value, growth and small cap, and emerging markets diversified across market capitalizations, investment styles and geographies.

Also, the manager relies on the benchmark index in allocating investments across foreign developed and emerging markets, including investments in growth or value stocks, and securities of companies with small market capitalizations.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses 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 foreign developed and emerging stock markets.

The team focuses on securities and in depository receipts representing securities included in the index.

The team employs statistical sampling techniques to replicate the returns of the index. The technique takes into account factors such as capitalization, industry exposures, dividend yield, and valuation multiples on the basis of earnings and book value.

Other factors in consideration are earnings growth, country weightings, and the effect of foreign taxes.

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 has the flexibility to lend securities to earn income.

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 non-U.S. companies, the majority of which are traded in mature markets such as Japan, Germany and France, or countries whose economies are still developing.

The team relies on fundamental analysis to look for companies that are trading at a discount to their estimated intrinsic value.

In addition, the team emphasizes companies demonstrating financial strength and stability, capable management and fundamental value.

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 has the flexibility to invest up to 20% of its net assets in debt instruments.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the ‘‘Subsidiary’’). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

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 non-U.S. companies, the majority of which are traded in mature markets such as Japan, Germany and France, or countries whose economies are still developing.

The team relies on fundamental analysis to look for companies that are trading at a discount to their estimated intrinsic value.

In addition, the team emphasizes companies demonstrating financial strength and stability, capable management and fundamental value.

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 has the flexibility to invest up to 20% of its net assets in debt instruments.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the ‘‘Subsidiary’’). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

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 non-U.S. companies, the majority of which are traded in mature markets such as Japan, Germany and France, or countries whose economies are still developing.

The team relies on fundamental analysis to look for companies that are trading at a discount to their estimated intrinsic value.

In addition, the team emphasizes companies demonstrating financial strength and stability, capable management and fundamental value.

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 has the flexibility to invest up to 20% of its net assets in debt instruments.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the ‘‘Subsidiary’’). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

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 non-U.S. companies, the majority of which are traded in mature markets such as Japan, Germany and France, or countries whose economies are still developing.

The team relies on fundamental analysis to look for companies that are trading at a discount to their estimated intrinsic value.

In addition, the team emphasizes companies demonstrating financial strength and stability, capable management and fundamental value.

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 has the flexibility to invest up to 20% of its net assets in debt instruments.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the ‘‘Subsidiary’’). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

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 non-U.S. companies, the majority of which are traded in mature markets such as Japan, Germany and France, or countries whose economies are still developing.

The team relies on fundamental analysis to look for companies that are trading at a discount to their estimated intrinsic value.

In addition, the team emphasizes companies demonstrating financial strength and stability, capable management and fundamental value.

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 has the flexibility to invest up to 20% of its net assets in debt instruments.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the ‘‘Subsidiary’’). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

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 non-U.S. companies, the majority of which are traded in mature markets such as Japan, Germany and France, or countries whose economies are still developing.

The team relies on fundamental analysis to look for companies that are trading at a discount to their estimated intrinsic value.

In addition, the team emphasizes companies demonstrating financial strength and stability, capable management and fundamental value.

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 has the flexibility to invest up to 20% of its net assets in debt instruments.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the ‘‘Subsidiary’’). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

The fund seeks primarily capital appreciation and secondarily 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 securities of European companies that are trading at a discount to their estimated intrinsic value.

The team also considers investing in merger arbitrage securities and the debt and equity of distressed companies.

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

The fund invests in securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.

Additionally, the fund may invest in securities of issuers from emerging markets.

Also, the fund has the flexibility to invest up to 20% of its net assets in securities of U.S. issuers and in securities of issuers from the Middle East and the remaining regions of the world.

The fund seeks primarily capital appreciation and secondarily 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 securities of European companies that are trading at a discount to their estimated intrinsic value.

The team also considers investing in merger arbitrage securities and the debt and equity of distressed companies.

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

The fund invests in securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.

Additionally, the fund may invest in securities of issuers from emerging markets.

Also, the fund has the flexibility to invest up to 20% of its net assets in securities of U.S. issuers and in securities of issuers from the Middle East and the remaining regions of the world.

The fund seeks primarily capital appreciation and secondarily 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 securities of European companies that are trading at a discount to their estimated intrinsic value.

The team also considers investing in merger arbitrage securities and the debt and equity of distressed companies.

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

The fund invests in securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.

Additionally, the fund may invest in securities of issuers from emerging markets.

Also, the fund has the flexibility to invest up to 20% of its net assets in securities of U.S. issuers and in securities of issuers from the Middle East and the remaining regions of the world.

The fund seeks primarily capital appreciation and secondarily 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 securities of European companies that are trading at a discount to their estimated intrinsic value.

The team also considers investing in merger arbitrage securities and the debt and equity of distressed companies.

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

The fund invests in securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.

Additionally, the fund may invest in securities of issuers from emerging markets.

Also, the fund has the flexibility to invest up to 20% of its net assets in securities of U.S. issuers and in securities of issuers from the Middle East and the remaining regions of the world.

The fund seeks primarily capital appreciation and secondarily 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 securities of European companies that are trading at a discount to their estimated intrinsic value.

The team also considers investing in merger arbitrage securities and the debt and equity of distressed companies.

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

The fund invests in securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.

Additionally, the fund may invest in securities of issuers from emerging markets.

Also, the fund has the flexibility to invest up to 20% of its net assets in securities of U.S. issuers and in securities of issuers from the Middle East and the remaining regions of the world.

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.

The strategy utilizes multi-year forecasts of returns among asset classes to build a portfolio.

Next, the research team focuses on companies that provide exposure to non-U.S. equity markets.

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

The portfolio seeks to outperform the benchmark index over a complete market cycle.
 

The fund seeks high 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 non-U.S. developed market equities that have positive return potential relative to other securities tied economically to international equity markets.

The team believes due to irrational investor behavior, the imperfect flow of information, and the participation of non-economic actors, markets exhibit inefficiencies in the short term.

Also, the team is of the view that in the long term returns are ultimately driven by economic reality.

So the team looks to capitalize on these market inefficiencies by employing a multi-factor valuation model and select mispriced securities.

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

The fund seeks high 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 non-U.S. developed market equities that have positive return potential relative to other securities tied economically to international equity markets.

The team believes due to irrational investor behavior, the imperfect flow of information, and the participation of non-economic actors, markets exhibit inefficiencies in the short term.

Also, the team is of the view that in the long term returns are ultimately driven by economic reality.

So the team looks to capitalize on these market inefficiencies by employing a multi-factor valuation model and select mispriced securities.

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

The fund seeks high 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 non-U.S. developed market equities that have positive return potential relative to other securities tied economically to international equity markets.

The team believes due to irrational investor behavior, the imperfect flow of information, and the participation of non-economic actors, markets exhibit inefficiencies in the short term.

Also, the team is of the view that in the long term returns are ultimately driven by economic reality.

So the team looks to capitalize on these market inefficiencies by employing a multi-factor valuation model and select mispriced securities.

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

The fund seeks high after-tax 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 international securities that have positive return potential relative to peers.

The team believes due to irrational investor behavior, the imperfect flow of information, and the participation of non-economic actors, markets exhibit inefficiencies in the short term.

Also, the team is of the view that in the long term returns are ultimately driven by economic reality.

So the team looks to capitalize on these market inefficiencies by employing a multi-factor valuation model and select mispriced securities.

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

The fund seeks capital appreciation in the long term by investing in companies 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

The fund seeks capital appreciation in the long term 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 non-U.S. issuers that adhere to environmental, social and governance factors.

The research team also conducts an analysis of individual companies’ corporate governance factors and a range of environmental and social factors that may vary by sector.

Also, the team meets with company management teams.

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 50 companies that exhibit capital growth potential over the long term.

Also, the fund invests in companies based in at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invest a substantial portion of its net assets in the securities of issuers located in the developed countries of Western Europe and in Japan, but may also invest in securities of issuers located in emerging market countries.

Furthermore, the fund may also invest up to 20% of its net assets in securities that may not adhere to its ESG criteria and in fixed income securities, such as government, corporate and bank debt obligations.

Based on its ESG criteria, the fund excludes companies that are involved in, and/or derive significant revenue from industries such as gambling, alcohol, tobacco, coal, and weapons.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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 invests in securities of non-U.S. issuers.

For the process, the team employs a bottom-up stock selection strategy and a top-down country/currency selection strategy.

In addition, the team evaluates companies on the basis of certain investment themes, such as Fundamental Mispricings, High Quality Business Models, Sentiment Analysis and Market Themes & Trends.

As part of Fundamental Mispricings, the team seeks to identify high-quality businesses trading at attractive valuations and exhibiting future earnings growth potential.

High Quality Business Models seeks to identify companies that are generating exceptional revenues with durable business models and aligned management incentives.

In the Sentiment Analysis, the team is driven by stocks experiencing improvements in their overall market sentiment.

When assessing Market Themes and Trends, the team favors companies positively positioned to benefit from themes and trends in the market and macroeconomic environment.
 
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 looks to have investments economically tied to at least three countries, not including the United States, and may invest in the securities of issuers in emerging market countries.

The fund invests broadly in large-and mid-size issuers across major countries and sectors of the international economy, with some exposure to small-cap issuers.

Additionally, the fund may also invest in fixed income securities that are considered to be cash equivalents.

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

The fund manages assets with the help of three sub-advisers. The sub-advisers are LSV Asset Management, Franklin Templeton Institutional, LLC, and Irish Life Investment Managers 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.

LSV looks for international companies that are estimated to trade below their fair values with high potential for capital growth potential in the near-term.

Franklin Templeton focuses on attractive companies offering higher expected revenue and earnings growth relative to peers.

ILIM seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

Next, the research team focuses on securities of issuers economically tied to countries other than the U.S., including those in emerging markets.

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

The fund may from time to time, have significant investments in a particular sector or country, a small number of countries, or a particular geographic region; provided that it invests in at least three different countries other than the U.S.

According to the investment team, the issuer of a security is generally deemed to be economically tied to a particular country other than the U.S. if the security is issued or guaranteed by the government of that country or any of its agencies, authorities or instrumentalities.

Also, the team considers if the issuer is organized under the laws of that country, or maintains a principal office in that country.

Furthermore, the team considers an issuer that has its principal securities trading market in that country, or derives 50% or more of its total revenues from goods sold or services performed in that country.

Additionally, the team determines if the issuer has 50% or more of its assets in that country; or is included in an index which is representative of that country.
 

The fund seeks to track the total return performance of a benchmark index before fees and expenses 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 focuses on securities or in derivative securities economically related to the Index.

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

The manager looks to replicate the market capitalizations, industry weightings, and other fundamental characteristics to those of the Index.

However, the fund does not necessarily invest in all of the stocks, or in the same weightings as the stocks have in the Index.

The fund seeks to track the total return performance of a benchmark index before fees and expenses 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 focuses on securities or in derivative securities economically related to the Index.

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

The manager looks to replicate the market capitalizations, industry weightings, and other fundamental characteristics to those of the Index.

However, the fund does not necessarily invest in all of the stocks, or in the same weightings as the stocks have in the Index.

The fund seeks to replicate total return performance of the benchmark index before fees and expenses by investing in mid-and large-size 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 foreign companies that adhere to environmental, social and governance factors.

The team analyzes a company across five key categories such as environment; community and society; employees and supply chain; customers; and governance and ethics.

In addition, the team also evaluates companies involved in industries that may impose substantial risks and/or costs on 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 excludes companies that explore for, extract, produce, manufacture or refine coal, oil or gas or produce or transmit electricity derived from fossil fuels or transmit natural gas or have carbon reserves.

Additionally, the fund avoids companies that have significant business involvement in genetically modified organisms, firearms, military weapons, nuclear power, alcohol, tobacco, adult entertainment and gambling.
 

The fund seeks to replicate total return performance of the benchmark index before fees and expenses by investing in mid-and large-size 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 foreign companies that adhere to environmental, social and governance factors.

The team analyzes a company across five key categories such as environment; community and society; employees and supply chain; customers; and governance and ethics.

In addition, the team also evaluates companies involved in industries that may impose substantial risks and/or costs on 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 excludes companies that explore for, extract, produce, manufacture or refine coal, oil or gas or produce or transmit electricity derived from fossil fuels or transmit natural gas or have carbon reserves.

Additionally, the fund avoids companies that have significant business involvement in genetically modified organisms, firearms, military weapons, nuclear power, alcohol, tobacco, adult entertainment and gambling.
 

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 focuses on foreign companies, including those located in emerging market countries.

The team seeks to identify attractive investment opportunities arising due to certain capital cycle, or supply-side conditions.

Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition.

In addition, the team relies on fundamental analysis to evaluate businesses and the industry within which they operate.

Another important aspect of the analysis is the research meetings with company management teams.

When selecting securities for the portfolio, the team assesses if companies deploy capital efficiently, and/or company management teams are appropriately incentivized.

Other factors that the team focuses on are whether companies operate in a monopolistic, oligopolistic or consolidating industry.

In addition, the team determines if the companies are generating high and durable returns on invested capital, and attractive or improving free cash-flow.

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 maintains an aggregate portfolio that is broadly regionally neutral relative to the benchmark index.

The portfolio holds between 450 and 550 companies across Europe, Japan, the Pacific Basin and emerging markets, and North America.

The fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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 focuses on foreign companies, including those located in emerging market countries.

The team seeks to identify attractive investment opportunities arising due to certain capital cycle, or supply-side conditions.

Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition.

In addition, the team relies on fundamental analysis to evaluate businesses and the industry within which they operate.

Another important aspect of the analysis is the research meetings with company management teams.

When selecting securities for the portfolio, the team assesses if companies deploy capital efficiently, and/or company management teams are appropriately incentivized.

Other factors that the team focuses on are whether companies operate in a monopolistic, oligopolistic or consolidating industry.

In addition, the team determines if the companies are generating high and durable returns on invested capital, and attractive or improving free cash-flow.

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 maintains an aggregate portfolio that is broadly regionally neutral relative to the benchmark index.

The portfolio holds between 450 and 550 companies across Europe, Japan, the Pacific Basin and emerging markets, and North America.

The fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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 focuses on foreign companies, including those located in emerging market countries.

The team seeks to identify attractive investment opportunities arising due to certain capital cycle, or supply-side conditions.

Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition.

In addition, the team relies on fundamental analysis to evaluate businesses and the industry within which they operate.

Another important aspect of the analysis is the research meetings with company management teams.

When selecting securities for the portfolio, the team assesses if companies deploy capital efficiently, and/or company management teams are appropriately incentivized.

Other factors that the team focuses on are whether companies operate in a monopolistic, oligopolistic or consolidating industry.

In addition, the team determines if the companies are generating high and durable returns on invested capital, and attractive or improving free cash-flow.

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 maintains an aggregate portfolio that is broadly regionally neutral relative to the benchmark index.

The portfolio holds between 450 and 550 companies across Europe, Japan, the Pacific Basin and emerging markets, and North America.

The fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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 focuses on foreign companies, including those located in emerging market countries.

The team seeks to identify attractive investment opportunities arising due to certain capital cycle, or supply-side conditions.

Capital cycle investing is based on the concept that the prospect of high returns will attract excessive capital and competition and the prospect of low returns will excessively depress new capital investments and discourage competition.

In addition, the team relies on fundamental analysis to evaluate businesses and the industry within which they operate.

Another important aspect of the analysis is the research meetings with company management teams.

When selecting securities for the portfolio, the team assesses if companies deploy capital efficiently, and/or company management teams are appropriately incentivized.

Other factors that the team focuses on are whether companies operate in a monopolistic, oligopolistic or consolidating industry.

In addition, the team determines if the companies are generating high and durable returns on invested capital, and attractive or improving free cash-flow.

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 maintains an aggregate portfolio that is broadly regionally neutral relative to the benchmark index.

The portfolio holds between 450 and 550 companies across Europe, Japan, the Pacific Basin and emerging markets, and North America.

The fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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 a diversified portfolio of non-U.S. securities.

In selecting securities for the portfolio, the team relies on quantitative factors, such as valuation, earnings, quality, price patterns, economic data, and risk.

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 manager invests primarily in the stocks of foreign companies located in developed markets, but may also invest up to 15%of the fund’s net assets in the securities of companies located in emerging markets. 

The fund also may invest in American Depositary Receipts, European Depositary Receipts, and Global Depository Receipts.

Also, the fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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 a diversified portfolio of non-U.S. securities.

In selecting securities for the portfolio, the team relies on quantitative factors, such as valuation, earnings, quality, price patterns, economic data, and risk.

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 manager invests primarily in the stocks of foreign companies located in developed markets, but may also invest up to 15%of the fund’s net assets in the securities of companies located in emerging markets. 

The fund also may invest in American Depositary Receipts, European Depositary Receipts, and Global Depository Receipts.

Also, the fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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 a diversified portfolio of non-U.S. securities.

In selecting securities for the portfolio, the team relies on quantitative factors, such as valuation, earnings, quality, price patterns, economic data, and risk.

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 manager invests primarily in the stocks of foreign companies located in developed markets, but may also invest up to 15%of the fund’s net assets in the securities of companies located in emerging markets. 

The fund also may invest in American Depositary Receipts, European Depositary Receipts, and Global Depository Receipts.

Also, the fund may invest in securities denominated in, and/or receiving revenues in, foreign currencies.
 

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.

According to the investment team, a company is considered to be based outside the United States if it is legally domiciled outside the United States, or it conducts at least 50% of its business outside the United States, or has the principal exchange listing for its securities outside the United States.

Next, the research team invests in companies based in developed markets, as well as in companies in emerging and frontier markets.

The team relies on fundamental analysis to look for well-managed companies with financial strength.

Other factors in consideration are fast-growing companies that are competitive and trading at reasonable valuations relative to their estimated fair value.

Now, the team assigns a rating to each stock based upon its potential return relative to the benchmark.

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 will invest broadly in securities of companies domiciled in Europe, the Pacific Rim, Canada and Mexico, and countries with emerging or frontier markets.

Also, the manager excludes stocks based on factors such as trading volumes, market capitalization, or geography.

Additionally, the fund may invest in securities of U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations.

The fund seeks long-term capital appreciation by investing in large- 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 narrows the investable universe with the help of quantitative research and fundamental analysis.

The team looks for companies that are trading at discounts to their peers and long term outlooks and are also out of favor with investors but have financial capacity and management depth to improve their performance over time.

The team reviews trends in business fundamentals and relative values to peers in determining portfolio inclusion.

The fund favors to invest in 50 to 70 companies that are financially strong and are deemed to be temporarily out of favor with investors or are mispriced or misunderstood.

The fund may invest up to 20% of its total assets in emerging markets.

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

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

Next, the research team invests in foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.

The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.

Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.

The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.

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

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

Next, the research team invests in foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.

The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.

Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.

The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.

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

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

Next, the research team invests in foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.

The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.

Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.

The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.

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

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

Next, the research team invests in foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.

The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.

Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.

The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.

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

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

Next, the research team invests in foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.

The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.

Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.

The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.

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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their intrinsic value.

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 invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

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

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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their intrinsic value.

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 invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

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

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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their intrinsic value.

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 invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

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

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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their intrinsic value.

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 invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

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

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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their intrinsic value.

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 invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

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

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 focuses on securities and depositary receipts of foreign issuers.

Then the team favors companies that demonstrate earnings or revenue growth potential.

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 trading at attractive valuations relative to their intrinsic value.

When evaluating a company’s intrinsic value, the team reviews a company’s financial information, competitive position relative to peers and its future prospects.

The team may also meet with the company’s management team and looks to purchase stocks that are trading at a discount to their intrinsic value.

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 invests across both developed and emerging markets.

Also, the fund provides exposure to investments that are economically tied to at least three different countries outside of the U.S.

In addition, the fund invests in China-A shares.

The fund may also invest in emerging markets countries up to 10% more or less than the amount of exposure to emerging markets countries in the benchmark index.

Also, the fund has the flexibility to invest across all market capitalizations, including small- and mid-capitalization issuers.

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

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.

The process employs a fund of funds strategy, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds invest in companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets.

The fund will invest in shares of Invesco Oppenheimer Developing Markets Fund, Invesco Oppenheimer International Growth Fund, Invesco Oppenheimer International Small-Mid Company Fund, and Invesco Oppenheimer International Equity Fund.

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 typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund,

From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region.

Also, the fund may hold a portion of its net assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Invesco family of funds.

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.

The process employs a fund of funds strategy, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds invest in companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets.

The fund will invest in shares of Invesco Oppenheimer Developing Markets Fund, Invesco Oppenheimer International Growth Fund, Invesco Oppenheimer International Small-Mid Company Fund, and Invesco Oppenheimer International Equity Fund.

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 typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund,

From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region.

Also, the fund may hold a portion of its net assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Invesco family of funds.

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.

The process employs a fund of funds strategy, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds invest in companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets.

The fund will invest in shares of Invesco Oppenheimer Developing Markets Fund, Invesco Oppenheimer International Growth Fund, Invesco Oppenheimer International Small-Mid Company Fund, and Invesco Oppenheimer International Equity Fund.

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 typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund,

From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region.

Also, the fund may hold a portion of its net assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Invesco family of funds.

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.

The process employs a fund of funds strategy, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds invest in companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets.

The fund will invest in shares of Invesco Oppenheimer Developing Markets Fund, Invesco Oppenheimer International Growth Fund, Invesco Oppenheimer International Small-Mid Company Fund, and Invesco Oppenheimer International Equity Fund.

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 typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund,

From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region.

Also, the fund may hold a portion of its net assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Invesco family of funds.

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.

The process employs a fund of funds strategy, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds invest in companies organized under the laws of a foreign country, or with a substantial portion of their operations, assets, revenue or profits from businesses, investments or sales outside the United States or securities traded primarily in foreign securities markets.

The fund will invest in shares of Invesco Oppenheimer Developing Markets Fund, Invesco Oppenheimer International Growth Fund, Invesco Oppenheimer International Small-Mid Company Fund, and Invesco Oppenheimer International Equity Fund.

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 typically invest in a minimum of three of the Underlying Funds and will not invest more than 50% of its net assets in any single Underlying Fund,

From time to time an Underlying Fund may place greater emphasis on investing in one or more particular industry or region.

Also, the fund may hold a portion of its net assets in cash, money market securities or other similar, liquid investments, including in shares of money market mutual funds in the Invesco family of funds.

The fund seeks to track the total return performance of the benchmark index before fees and expenses by investing in companies outside the United States.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

In addition, the team focuses in a statistically selected sample of securities and derivative instruments linked to the Index.

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

The fund may invest in all of the countries represented in the Index.

However, the fund may not invest in all of the companies within a country represented in the Index, or in the same weightings as in the Index.

The fund seeks to track the total return performance of the benchmark index before fees and expenses by investing in companies outside the United States.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

In addition, the team focuses in a statistically selected sample of securities and derivative instruments linked to the Index.

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

The fund may invest in all of the countries represented in the Index.

However, the fund may not invest in all of the companies within a country represented in the Index, or in the same weightings as in the Index.

The fund seeks to track the total return performance of the benchmark index before fees and expenses by investing in companies outside the United States.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

In addition, the team focuses in a statistically selected sample of securities and derivative instruments linked to the Index.

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

The fund may invest in all of the countries represented in the Index.

However, the fund may not invest in all of the companies within a country represented in the Index, or in the same weightings as in the Index.

The fund seeks to track the total return performance of the benchmark index before fees and expenses by investing in companies outside the United States.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

In addition, the team focuses in a statistically selected sample of securities and derivative instruments linked to the Index.

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

The fund may invest in all of the countries represented in the Index.

However, the fund may not invest in all of the companies within a country represented in the Index, or in the same weightings as in the Index.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in mid-and large-size companies outside the United States.

The fund is a feeder fund that invests all of its net assets in the Master Portfolio, which has the same investment objective and strategies as the fund.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

The fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

At times, the fund may not invest in all of the common stocks or in the same weightings as in the Index.

The fund may lend securities with a value up to 331⁄3% of its net assets to financial institutions that provide cash or securities.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector to approximately the same extent that the Index is concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in mid-and large-size companies outside the United States.

The fund is a feeder fund that invests all of its net assets in the Master Portfolio, which has the same investment objective and strategies as the fund.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

The fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

At times, the fund may not invest in all of the common stocks or in the same weightings as in the Index.

The fund may lend securities with a value up to 331⁄3% of its net assets to financial institutions that provide cash or securities.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector to approximately the same extent that the Index is concentrated.

The fund seeks to replicate the total return performance of the benchmark index before fees and expenses by investing in mid-and large-size companies outside the United States.

The fund is a feeder fund that invests all of its net assets in the Master Portfolio, which has the same investment objective and strategies as the fund.

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

Next, the research team employs a passive investment approach which involves investing in securities whose performance replicates the performance of the Index.

The fund seeks to replicate the composition of the benchmark index, holding each security in approximately the same proportion as its weighting in the Index.

At times, the fund may not invest in all of the common stocks or in the same weightings as in the Index.

The fund may lend securities with a value up to 331⁄3% of its net assets to financial institutions that provide cash or securities.

The portfolio is concentrated and the fund has the flexibility to hold 25% or more of its net assets in a particular industry or sector to approximately the same extent that the Index is concentrated.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

The fund seeks capital growth and appreciation 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 investment opportunities.

Next, the research team focuses on securities traded largely in developed European and Asian/Pacific Basin markets.

The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.

In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.

As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.

To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.

The fund also may invest in depositary receipts of foreign issuers.

Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.

Also, the fund may invest up to 100% of its total assets in foreign securities.

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

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

As part of its process, the investment team employs a fund-of-funds strategy.

Next, the research team invests primarily in Class N shares of certain Ivy Funds global/international mutual funds.

Each underlying Ivy Fund, in turn, invests in a diversified portfolio of foreign equity securities of issuers in developed as well as emerging markets, and, a mixture of investment grade bonds issued by foreign corporations and governments.

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

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

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

As part of its process, the investment team employs a fund-of-funds strategy.

Next, the research team invests primarily in Class N shares of certain Ivy Funds global/international mutual funds.

Each underlying Ivy Fund, in turn, invests in a diversified portfolio of foreign equity securities of issuers in developed as well as emerging markets, and, a mixture of investment grade bonds issued by foreign corporations and governments.

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

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

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

As part of its process, the investment team employs a fund-of-funds strategy.

Next, the research team invests primarily in Class N shares of certain Ivy Funds global/international mutual funds.

Each underlying Ivy Fund, in turn, invests in a diversified portfolio of foreign equity securities of issuers in developed as well as emerging markets, and, a mixture of investment grade bonds issued by foreign corporations and governments.

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

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

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

As part of its process, the investment team employs a fund-of-funds strategy.

Next, the research team invests primarily in Class N shares of certain Ivy Funds global/international mutual funds.

Each underlying Ivy Fund, in turn, invests in a diversified portfolio of foreign equity securities of issuers in developed as well as emerging markets, and, a mixture of investment grade bonds issued by foreign corporations and governments.

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

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

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

As part of its process, the investment team employs a fund-of-funds strategy.

Next, the research team invests primarily in Class N shares of certain Ivy Funds global/international mutual funds.

Each underlying Ivy Fund, in turn, invests in a diversified portfolio of foreign equity securities of issuers in developed as well as emerging markets, and, a mixture of investment grade bonds issued by foreign corporations and governments.

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

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

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

As part of its process, the investment team employs a fund-of-funds strategy.

Next, the research team invests primarily in Class N shares of certain Ivy Funds global/international mutual funds.

Each underlying Ivy Fund, in turn, invests in a diversified portfolio of foreign equity securities of issuers in developed as well as emerging markets, and, a mixture of investment grade bonds issued by foreign corporations and governments.

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

The fund seeks capital appreciation in the long term by investing in companies across any size 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 of companies headquartered outside the U.S., including those in emerging market countries.

The team assesses companies on the basis of factors such as growth, valuation, size, momentum, price-trend, and beta.

Additionally, the research team favors stocks, sectors, and countries with positive earnings surprises, sustainably high or increasing return on equity, and attractive valuations.

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

The fund 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 securities of companies headquartered outside the U.S., including those in emerging market countries.

The team assesses companies on the basis of factors such as growth, valuation, size, momentum, price-trend, and beta.

Additionally, the research team favors stocks, sectors, and countries with positive earnings surprises, sustainably high or increasing return on equity, and attractive valuations.

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

The fund seeks capital appreciation in the long term 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 focuses on companies across non-U.S. developed and emerging markets by integrating comprehensive ESG criteria and traditional security selection.

The fund defines foreign companies as companies that are organized under the laws of a country outside the United States, or that have a minimum of 50% of their assets, or that derive a minimum of 50% of their revenue or profits, from businesses, investments, or sales outside of the United States.

Then the team prefers companies that have sustainable business models as well as superior ESG practices.

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 high-quality companies that are estimated to trade below their fair values.

The team also considers companies with sound governance and capable management team.

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 manager seeks to identify companies that provide safe, desirable, high-quality products or services and market them in responsible ways.

Additionally, the fund may focus its investments in a particular sector or sectors of the economy.

However, the fund will avoid investments that have material direct revenues from production of nuclear power, tobacco, and/or weapons/firearms.

The fund seeks capital appreciation in the long term 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 focuses on companies across non-U.S. developed and emerging markets by integrating comprehensive ESG criteria and traditional security selection.

The fund defines foreign companies as companies that are organized under the laws of a country outside the United States, or that have a minimum of 50% of their assets, or that derive a minimum of 50% of their revenue or profits, from businesses, investments, or sales outside of the United States.

Then the team prefers companies that have sustainable business models as well as superior ESG practices.

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 high-quality companies that are estimated to trade below their fair values.

The team also considers companies with sound governance and capable management team.

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 manager seeks to identify companies that provide safe, desirable, high-quality products or services and market them in responsible ways.

Additionally, the fund may focus its investments in a particular sector or sectors of the economy.

However, the fund will avoid investments that have material direct revenues from production of nuclear power, tobacco, and/or weapons/firearms.

The fund seeks capital appreciation in the long term 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 focuses on companies across non-U.S. developed and emerging markets by integrating comprehensive ESG criteria and traditional security selection.

The fund defines foreign companies as companies that are organized under the laws of a country outside the United States, or that have a minimum of 50% of their assets, or that derive a minimum of 50% of their revenue or profits, from businesses, investments, or sales outside of the United States.

Then the team prefers companies that have sustainable business models as well as superior ESG practices.

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 high-quality companies that are estimated to trade below their fair values.

The team also considers companies with sound governance and capable management team.

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 manager seeks to identify companies that provide safe, desirable, high-quality products or services and market them in responsible ways.

Additionally, the fund may focus its investments in a particular sector or sectors of the economy.

However, the fund will avoid investments that have material direct revenues from production of nuclear power, tobacco, and/or weapons/firearms.

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 markets, including those in emerging markets.

The team relies on in-house research to look for companies that are attractively valued relative to their long-term growth prospects.

The team relies on fundamental analysis to evaluate companies on factors such as growth, valuation and quality..

Also, the team selects companies that demonstrate attractive and consistent growth and valuation 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 manager may invest in any foreign country and is unconstrained by any particular region, style or sector.

The portfolio typically holds between40 and 50 securities.

In addition, the fund invests n issuers in at least three foreign countries. However, the fund may invest a substantial part of its net assets in just one country.

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 markets, including those in emerging markets.

The team relies on in-house research to look for companies that are attractively valued relative to their long-term growth prospects.

The team relies on fundamental analysis to evaluate companies on factors such as growth, valuation and quality..

Also, the team selects companies that demonstrate attractive and consistent growth and valuation 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 manager may invest in any foreign country and is unconstrained by any particular region, style or sector.

The portfolio typically holds between40 and 50 securities.

In addition, the fund invests n issuers in at least three foreign countries. However, the fund may invest a substantial part of its net assets in just one country.

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 markets, including those in emerging markets.

The team relies on in-house research to look for companies that are attractively valued relative to their long-term growth prospects.

The team relies on fundamental analysis to evaluate companies on factors such as growth, valuation and quality..

Also, the team selects companies that demonstrate attractive and consistent growth and valuation 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 manager may invest in any foreign country and is unconstrained by any particular region, style or sector.

The portfolio typically holds between40 and 50 securities.

In addition, the fund invests n issuers in at least three foreign countries. However, the fund may invest a substantial part of its net assets in just one country.

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 markets, including those in emerging markets.

The team relies on in-house research to look for companies that are attractively valued relative to their long-term growth prospects.

The team relies on fundamental analysis to evaluate companies on factors such as growth, valuation and quality..

Also, the team selects companies that demonstrate attractive and consistent growth and valuation 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 manager may invest in any foreign country and is unconstrained by any particular region, style or sector.

The portfolio typically holds between40 and 50 securities.

In addition, the fund invests n issuers in at least three foreign countries. However, the fund may invest a substantial part of its net assets in just one country.

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 markets, including those in emerging markets.

The team relies on in-house research to look for companies that are attractively valued relative to their long-term growth prospects.

The team relies on fundamental analysis to evaluate companies on factors such as growth, valuation and quality..

Also, the team selects companies that demonstrate attractive and consistent growth and valuation 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 manager may invest in any foreign country and is unconstrained by any particular region, style or sector.

The portfolio typically holds between40 and 50 securities.

In addition, the fund invests n issuers in at least three foreign countries. However, the fund may invest a substantial part of its net assets in just one country.

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 markets, including those in emerging markets.

The team relies on in-house research to look for companies that are attractively valued relative to their long-term growth prospects.

The team relies on fundamental analysis to evaluate companies on factors such as growth, valuation and quality..

Also, the team selects companies that demonstrate attractive and consistent growth and valuation 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 manager may invest in any foreign country and is unconstrained by any particular region, style or sector.

The portfolio typically holds between40 and 50 securities.

In addition, the fund invests n issuers in at least three foreign countries. However, the fund may invest a substantial part of its net assets in just one country.

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 seeks to identify companies that have the potential for above-average investment returns.

Next, the team ranks and then evaluates highly-ranked securities for purchase based on fundamental data and macroeconomic considerations.

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 at least three countries, including the United States, and at least 40% of its net assets will be invested in non-U.S. companies, in both developed and emerging market countries.

The investment team considers a company to be a non-U.S. company if 50% of the company’s assets are located outside of the United States or 50% of the company’s revenues are generated outside of the United States, or the company maintains its principal place of business outside of the United States.

The fund makes investment decisions consistent with the United States Conference of Catholic Bishops’ Socially Responsible Investing Guidelines.

The fund is designed to avoid investments in companies that are believed to be involved with abortion, contraception, pornography, stem cell research/human cloning, weapons of mass destruction, or other enterprises that conflict with the USCCB Guidelines.

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 seeks to identify companies that have the potential for above-average investment returns.

Next, the team ranks and then evaluates highly-ranked securities for purchase based on fundamental data and macroeconomic considerations.

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 at least three countries, including the United States, and at least 40% of its net assets will be invested in non-U.S. companies, in both developed and emerging market countries.

The investment team considers a company to be a non-U.S. company if 50% of the company’s assets are located outside of the United States or 50% of the company’s revenues are generated outside of the United States, or the company maintains its principal place of business outside of the United States.

The fund makes investment decisions consistent with the United States Conference of Catholic Bishops’ Socially Responsible Investing Guidelines.

The fund is designed to avoid investments in companies that are believed to be involved with abortion, contraception, pornography, stem cell research/human cloning, weapons of mass destruction, or other enterprises that conflict with the USCCB Guidelines.

The fund seeks capital appreciation in the long term by investing in mid-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 securities of companies located throughout the world.

As part of the quantitative analysis, the team relies on valuation multiples such as earnings, book value, sales, net present value, free cash flow, sustainable dividend yield and liquidation/ replacement value.

With the help of qualitative analysis, the research team gets an understanding of franchise quality, management strength, corporate strategy, barriers-to-entry, shareholder value orientation, operating and industry fundamentals and competitive advantage.

In addition, the team prefers mispriced securities of companies that are estimated to trade below their fair values.

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 significantly in securities of issuers located in emerging or frontier markets.

Also, no more than 35% of the fund’s net assets may be invested in securities of companies located in a single country.

Additionally, the fund may invest up to 15% of its net assets in U.S. domiciled businesses that have significant business activities outside the United States.

The fund generally follows a multi-capitalization approach that focuses on mid- to large-capitalization companies, but may also invest in small capitalization companies.

The fund seeks capital appreciation in the long term by investing in mid-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 securities of companies located throughout the world.

As part of the quantitative analysis, the team relies on valuation multiples such as earnings, book value, sales, net present value, free cash flow, sustainable dividend yield and liquidation/ replacement value.

With the help of qualitative analysis, the research team gets an understanding of franchise quality, management strength, corporate strategy, barriers-to-entry, shareholder value orientation, operating and industry fundamentals and competitive advantage.

In addition, the team prefers mispriced securities of companies that are estimated to trade below their fair values.

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 significantly in securities of issuers located in emerging or frontier markets.

Also, no more than 35% of the fund’s net assets may be invested in securities of companies located in a single country.

Additionally, the fund may invest up to 15% of its net assets in U.S. domiciled businesses that have significant business activities outside the United States.

The fund generally follows a multi-capitalization approach that focuses on mid- to large-capitalization companies, but may also invest in small capitalization 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.

Next, the research team focuses on stocks, of US and non-US companies. 

The research process is driven by fundamental analysis of one stock at a time. The team favors companies that have attractive fundamentals and high-quality financial characteristics.

Then the team evaluates each company relative to its global peers and characteristics such as growth, value, sentiment and quality.

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 typically invests the majority of the fund’s net assets in securities of non-US developed market companies.

In selecting securities for the portfolio, the research team focuses on a broad investment universe of non-US stocks and depositary receipts, including American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts, real estate investment trusts, warrants and rights.

Also, the fund may invest in exchange-traded open-end management investment companies and similar products, which generally pursue a passive index-based strategy.

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 stocks, of US and non-US companies. 

The research process is driven by fundamental analysis of one stock at a time. The team favors companies that have attractive fundamentals and high-quality financial characteristics.

Then the team evaluates each company relative to its global peers and characteristics such as growth, value, sentiment and quality.

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 typically invests the majority of the fund’s net assets in securities of non-US developed market companies.

In selecting securities for the portfolio, the research team focuses on a broad investment universe of non-US stocks and depositary receipts, including American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts, real estate investment trusts, warrants and rights.

Also, the fund may invest in exchange-traded open-end management investment companies and similar products, which generally pursue a passive index-based strategy.

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 securities of non-US companies that are estimated to trade below their fair values based on their earnings, cash flow or asset values.

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 also may invest up to 15% of its net assets in securities of companies whose principal business activities are located in emerging market countries.

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

The fund 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 securities of non-US companies that are estimated to trade below their fair values based on their earnings, cash flow or asset values.

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 also may invest up to 15% of its net assets in securities of companies whose principal business activities are located in emerging market countries.

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

The fund 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 securities of non-US companies that are estimated to trade below their fair values based on their earnings, cash flow or asset values.

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 also may invest up to 15% of its net assets in securities of companies whose principal business activities are located in emerging market countries.

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

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

The investment process starts with a list of companies with market capitalization of $1 billion and higher in developed markets and emerging countries.

Then the research team with the help of fundamental analysis and quantitative research narrows the list to market leaders with growing free cash flows and strong financial positions.

The team then with the help of qualitative analysis estimates intrinsic value of the select businesses that are clearly understood by investment team.

The team favors companies that are trading at least below 60% of their intrinsic values and builds a concentrated fund of 15 to 22 holdings.

The fund invests at least 65% of its assets in non-U.S. securities including securities issues by companies in emerging markets and American depository receipts.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

The fund seeks capital appreciation in the long term 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.

The fund employs a blend strategy to invest in both growth and value stocks, or stocks with characteristics of both.

Next, the research team focuses on securities of international companies that are estimated to trade below their fair values.

The research team considers value and growth companies that are estimated to trade below their fair values relative to their fundamentals.

According to the research team, value companies are those that are trading at a discount to their estimated intrinsic value with capital appreciation potential.

The team also considers growth companies that demonstrate accelerated earnings and profit growth prospects.

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 invests in companies whose securities may be traded on U.S. or non-U.S. securities exchanges, and may include American Depositary Receipts and other similar depositary receipts.

Also, the fund has the flexibility to invest without limitation in securities of companies that are traded primarily on securities markets or exchanges located in emerging market countries.

The fund also may invest in U.S. companies, and in supranational organizations.

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