The fund seeks capital appreciation in the long term by investing in small-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 relies on fundamental analysis to identify companies that have attractive valuation and compelling company- and/or industry-level investment catalysts.

As part of its quantitative analysis, the team considers factors related to valuation, quality, investor behavior and corporate behavior.

Then the manager 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 located in at least three countries other than the United States and estimates to have exposure to issuers in several different countries.

In determining a company’s location, the manager may consider the place of domicile, where the company has an established presence and conducts its business, and where the company conducts a significant part of its economic activities.

The fund may invest in both developed and emerging market countries and, at times, may invest significantly in emerging markets.

Additionally, the fund may invest in established companies and also in new and less-seasoned issuers, and may also invest in exchange-traded funds.
 

The fund seeks capital appreciation in the long term by investing in small-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 relies on fundamental analysis to identify companies that have attractive valuation and compelling company- and/or industry-level investment catalysts.

As part of its quantitative analysis, the team considers factors related to valuation, quality, investor behavior and corporate behavior.

Then the manager 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 located in at least three countries other than the United States and estimates to have exposure to issuers in several different countries.

In determining a company’s location, the manager may consider the place of domicile, where the company has an established presence and conducts its business, and where the company conducts a significant part of its economic activities.

The fund may invest in both developed and emerging market countries and, at times, may invest significantly in emerging markets.

Additionally, the fund may invest in established companies and also in new and less-seasoned issuers, and may also invest in exchange-traded funds.
 

The fund seeks capital appreciation in the long term by investing in small-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 relies on fundamental analysis to identify companies that have attractive valuation and compelling company- and/or industry-level investment catalysts.

As part of its quantitative analysis, the team considers factors related to valuation, quality, investor behavior and corporate behavior.

Then the manager 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 located in at least three countries other than the United States and estimates to have exposure to issuers in several different countries.

In determining a company’s location, the manager may consider the place of domicile, where the company has an established presence and conducts its business, and where the company conducts a significant part of its economic activities.

The fund may invest in both developed and emerging market countries and, at times, may invest significantly in emerging markets.

Additionally, the fund may invest in established companies and also in new and less-seasoned issuers, and may also invest in exchange-traded funds.
 

The fund seeks capital appreciation in the long term by investing in small-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.

According to the investment team, a company is considered to be a non-U.S. company if the company is organized under the laws of or has its principal office in a country outside the U.S., or the company has its principal securities trading market in a country outside the U.S., and/or the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in a country outside the U.S.

The research process is driven by fundamental analysis of one stock at a time. Next, the research team evaluates a company to select securities for the portfolio.

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.

Also, a number of countries around the world will be represented in the portfolio, some of which may be considered to be emerging market countries.

At times, the fund may have a significant amount of its net assets invested in a country or geographic region.

Additionally, the fund may invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector.
 

The fund seeks capital appreciation in the long term by investing in small-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.

According to the investment team, a company is considered to be a non-U.S. company if the company is organized under the laws of or has its principal office in a country outside the U.S., or the company has its principal securities trading market in a country outside the U.S., and/or the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in a country outside the U.S.

The research process is driven by fundamental analysis of one stock at a time. Next, the research team evaluates a company to select securities for the portfolio.

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.

Also, a number of countries around the world will be represented in the portfolio, some of which may be considered to be emerging market countries.

At times, the fund may have a significant amount of its net assets invested in a country or geographic region.

Additionally, the fund may invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector.
 

The fund seeks capital appreciation in the long term by investing in small-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.

According to the investment team, a company is considered to be a non-U.S. company if the company is organized under the laws of or has its principal office in a country outside the U.S., or the company has its principal securities trading market in a country outside the U.S., and/or the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in a country outside the U.S.

The research process is driven by fundamental analysis of one stock at a time. Next, the research team evaluates a company to select securities for the portfolio.

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.

Also, a number of countries around the world will be represented in the portfolio, some of which may be considered to be emerging market countries.

At times, the fund may have a significant amount of its net assets invested in a country or geographic region.

Additionally, the fund may invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector.
 

The fund seeks capital appreciation in the long term by investing in small-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.

According to the investment team, a company is considered to be a non-U.S. company if the company is organized under the laws of or has its principal office in a country outside the U.S., or the company has its principal securities trading market in a country outside the U.S., and/or the company derives the majority of its annual revenue or earnings or assets from goods produced, sales made or services performed in a country outside the U.S.

The research process is driven by fundamental analysis of one stock at a time. Next, the research team evaluates a company to select securities for the portfolio.

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.

Also, a number of countries around the world will be represented in the portfolio, some of which may be considered to be emerging market countries.

At times, the fund may have a significant amount of its net assets invested in a country or geographic region.

Additionally, the fund may invest in securities of any market sector and may hold a significant amount of securities of companies, from time to time, within a single sector.
 

The fund’s objective is to appreciate capital through investing in small-size companies in the non-U.S. companies.

The investment process starts with a list of companies with market capitalizations between $60 million and $8 billion. The research team is focused on identifying companies that meet size, growth, quality of revenue and earnings growth.

The team then with the help of qualitative and quantitative research narrows the list of companies with attractive growth profile, strong financial statements, long growth runway and low shareholder participation. The fund favors companies with near-term catalysts to lift stocks higher in the next 18 months.

The fund is diversified across different countries and regions as part of its risk control and the fund practices strict buy and sell disciplines and follows strictly its risk management process on avoiding to lose money.

The fund’s objective is to appreciate capital through investing in small-size companies in the non-U.S. companies.

The investment process starts with a list of companies with market capitalizations between $60 million and $8 billion. The research team is focused on identifying companies that meet size, growth, quality of revenue and earnings growth.

The team then with the help of qualitative and quantitative research narrows the list of companies with attractive growth profile, strong financial statements, long growth runway and low shareholder participation. The fund favors companies with near-term catalysts to lift stocks higher in the next 18 months.

The fund is diversified across different countries and regions as part of its risk control and the fund practices strict buy and sell disciplines and follows strictly its risk management process on avoiding to lose money.

The fund’s objective is to appreciate capital through investing in small-size companies in the non-U.S. companies.

The investment process starts with a list of companies with market capitalizations between $60 million and $8 billion. The research team is focused on identifying companies that meet size, growth, quality of revenue and earnings growth.

The team then with the help of qualitative and quantitative research narrows the list of companies with attractive growth profile, strong financial statements, long growth runway and low shareholder participation. The fund favors companies with near-term catalysts to lift stocks higher in the next 18 months.

The fund is diversified across different countries and regions as part of its risk control and the fund practices strict buy and sell disciplines and follows strictly its risk management process on avoiding to lose money.

The fund seeks capital appreciation by investing in small-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 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 academics 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 75 and 175 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.

The fund invests in companies located in at least three countries outside the United States.

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

The fund seeks capital appreciation by investing in small-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 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 academics 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 75 and 175 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.

The fund invests in companies located in at least three countries outside the United States.

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

The fund seeks primarily capital appreciation in the long term and secondarily current income by investing in small-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.

Valuation is also part of the investment process.

The investment team considers an issuer to be non–U.S. based if the issuer is organized under the laws of a jurisdiction other than those of the U.S., or the securities of the issuer have a primary listing on a stock exchange outside the U.S. regardless of the country in which the issuer is organized, or the issuer derives 50% or more of its total revenue from goods and/or services produced or sold outside of the U.S.

Next, the research team relies on fundamental analysis to identify exceptional companies. The team believes exceptional companies save time, lives, money or headaches or provide an exceptional value proposition to consumers.

Then the manager 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 typically holds a portfolio of between 40 and 65 securities which have the potential for growth.

Also, the fund may invest in the securities of emerging or developing markets.

The fund seeks primarily capital appreciation in the long term and secondarily current income by investing in small-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.

Valuation is also part of the investment process.

The investment team considers an issuer to be non–U.S. based if the issuer is organized under the laws of a jurisdiction other than those of the U.S., or the securities of the issuer have a primary listing on a stock exchange outside the U.S. regardless of the country in which the issuer is organized, or the issuer derives 50% or more of its total revenue from goods and/or services produced or sold outside of the U.S.

Next, the research team relies on fundamental analysis to identify exceptional companies. The team believes exceptional companies save time, lives, money or headaches or provide an exceptional value proposition to consumers.

Then the manager 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 typically holds a portfolio of between 40 and 65 securities which have the potential for growth.

Also, the fund may invest in the securities of emerging or developing markets.

The fund seeks capital appreciation in the long term by investing in small-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.

From time to time, the fund may also focus its investments in a particular geographic region, such as Europe or Asia.

The fund seeks capital appreciation in the long term by investing in small-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 emphasizes companies located in developed and emerging markets outside the U.S.

The team considers factors relating to valuation, growth, technical indicators, and competitive strength, and top-down factors relating to macroeconomics and country.

Then the 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 invest up to 10% of its net assets in foreign and emerging markets not included in the Small Cap Index.

Also, the fund may invest in a wide range of industries.

The fund seeks capital appreciation in the long term by investing in small-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 emphasizes companies located in developed and emerging markets outside the U.S.

The team considers factors relating to valuation, growth, technical indicators, and competitive strength, and top-down factors relating to macroeconomics and country.

Then the 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 invest up to 10% of its net assets in foreign and emerging markets not included in the Small Cap Index.

Also, the fund may invest in a wide range of industries.

The fund seeks capital appreciation in the long term by investing in small-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 looks for companies that are estimated to trade below their fair values but have the potential for capital appreciation.

Then the manager 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 developed and emerging countries.

In addition, the fund may focus a significant portion of its investments in one or more countries from time to time.

The fund seeks capital appreciation in the long term by investing in small-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 looks for companies that are estimated to trade below their fair values but have the potential for capital appreciation.

Then the manager 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 developed and emerging countries.

In addition, the fund may focus a significant portion of its investments in one or more countries from time to time.

The fund seeks capital appreciation in the long term by investing in small-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 looks for companies that are estimated to trade below their fair values but have the potential for capital appreciation.

Then the manager 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 developed and emerging countries.

In addition, the fund may focus a significant portion of its investments in one or more countries from time to time.

The fund seeks capital appreciation in the long term by investing in small-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 looks for companies that are estimated to trade below their fair values but have the potential for capital appreciation.

Then the manager 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 developed and emerging countries.

In addition, the fund may focus a significant portion of its investments in one or more countries from time to time.

The fund seeks capital appreciation in the long term by investing in small-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 looks for companies that are estimated to trade below their fair values but have the potential for capital appreciation.

Then the manager 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 developed and emerging countries.

In addition, the fund may focus a significant portion of its investments in one or more countries from time to time.

The fund seeks capital appreciation in the long term by investing in small-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.

The investment process utilizes a Feeder Portfolio strategy where the research team invests substantially all of the fund’s net assets in its corresponding Master Fund, The Asia Pacific Small Company Series.

Next, the research team employs a market capitalization weighted approach to focus on companies associated with Australia, New Zealand and Pacific Rim Asian countries.

So, the higher the relative market capitalization of the company within an eligible country, the greater will be its representation in the fund’s portfolio.

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

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.

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 small-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.

The investment process utilizes a Feeder Portfolio strategy where the research team invests substantially all of the fund’s net assets in its corresponding Master Fund, The Continental Small Company Series.

Next, the research team employs a market capitalization weighted approach to focus on companies associated with European countries.

So, the higher the relative market capitalization of the company within an eligible country, the greater will be its representation in the fund’s portfolio.

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

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.

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 small-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 process employs a fund of funds strategies, which means the portfolio generally allocates its assets among other funds (the Underlying Funds).

The Underlying Funds are The Canadian Small Company Series, The Japanese Small Company Series, The Asia Pacific Small Company Series, The United Kingdom Small Company Series and The Continental Small Company Series of The DFA Investment Trust Company.

Each Underlying Fund invests in companies utilizing a market capitalization weighted approach in each country or region designated by the manager.

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

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.

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 portfolio consists of a broad range of securities of primarily small Canadian, Japanese, United Kingdom, Continental European and Asia Pacific companies.

Also, the portfolio may have some exposure to small capitalization securities associated with other countries or regions.

The fund and underlying funds may lend their portfolio securities to generate additional income.
 

The fund seeks capital appreciation in the long term by investing in small-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.

The investment process utilizes a Feeder Portfolio strategy where the research team invests substantially all of the fund’s net assets in its corresponding Master Fund, The Japanese Small Company Series.

Next, the research team employs a market capitalization weighted approach to focus on companies associated with Japan.

So, the higher the relative market capitalization of a Japanese small company, the greater will be its representation in the fund’s portfolio.

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

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.

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 by investing in small-size international companies outside the United States.

The fund’s investment process starts with a list of companies included in the benchmark index. The research team narrows the investable universe using financial screens and quantitative research that meet hurdles on return on capital and historical earnings growth rates.

Next, the team with the help of qualitative analysis and competitive review identifies companies with sustainable business models and durability of earnings.

The fund favors companies that are trading at reasonable prices to their long term earnings estimate.

The diversified fund has about 25% of its assets invested in Japan and about 35% invested in France, U.K., Germany, Australia, Switzerland and Italy.

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

The fund’s investment process starts with a list of companies included in the benchmark index. The research team narrows the investable universe using financial screens and quantitative research that meet hurdles on return on capital and historical earnings growth rates.

Next, the team with the help of qualitative analysis and competitive review identifies companies with sustainable business models and durability of earnings.

The fund favors companies that are trading at reasonable prices to their long term earnings estimate.

The diversified fund has about 25% of its assets invested in Japan and about 35% invested in France, U.K., Germany, Australia, Switzerland and Italy.

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

The fund’s investment process starts with a list of companies included in the benchmark index. The research team narrows the investable universe using financial screens and quantitative research that meet hurdles on return on capital and historical earnings growth rates.

Next, the team with the help of qualitative analysis and competitive review identifies companies with sustainable business models and durability of earnings.

The fund favors companies that are trading at reasonable prices to their long term earnings estimate.

The diversified fund has about 25% of its assets invested in Japan and about 35% invested in France, U.K., Germany, Australia, Switzerland and Italy.

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

The fund’s investment process starts with a list of companies included in the benchmark index. The research team narrows the investable universe using financial screens and quantitative research that meet hurdles on return on capital and historical earnings growth rates.

Next, the team with the help of qualitative analysis and competitive review identifies companies with sustainable business models and durability of earnings.

The fund favors companies that are trading at reasonable prices to their long term earnings estimate.

The diversified fund has about 25% of its assets invested in Japan and about 35% invested in France, U.K., Germany, Australia, Switzerland and Italy.

The fund seeks to invest in small-size companies around the world outside the United States.

The investment process is focused on finding high or improving quality companies that are well placed to benefit from the structural growth. The fundamental research driven stock selection process relies on quantitative techniques in identifying companies with strong financials, high return in capital and attractive free cash flows.

The team then looks for a narrow list of companies that are likely to benefit from the durable structural growth in the long term.

The fund screens companies between market capitalization of as low as $50 million to $7 billion and selects between 120 and 150 stocks. Top 10 holdings account for about 15% of total assets.

The fund seeks to invest in small-size companies around the world outside the United States.

The investment process is focused on finding high or improving quality companies that are well placed to benefit from the structural growth. The fundamental research driven stock selection process relies on quantitative techniques in identifying companies with strong financials, high return in capital and attractive free cash flows.

The team then looks for a narrow list of companies that are likely to benefit from the durable structural growth in the long term.

The fund screens companies between market capitalization of as low as $50 million to $7 billion and selects between 120 and 150 stocks. Top 10 holdings account for about 15% of total assets.

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

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

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

The team favors high-quality companies trading at discounts to their intrinsic value.

Also, the team prefers companies that may be out of favor with investors.

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 small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. securities, including securities of issuers located in emerging markets.

Additionally, the team prefers companies with multiyear structural growth prospects, high barriers to entry and attractive valuations.

Also, the team divides investment ideas into three main categories such as structurally attractive growth themes, cyclically out-of-favor companies with limited competition and pricing power, and companies with superior earnings potential that may be cheap due to macroeconomic events.

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 primarily capital appreciation and secondarily current income by investing in small-size companies outside the United States.

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

Next, the research team focuses on non-U.S. companies.

In determining whether an issuer is a U.S. or non-U.S. Company, the team considers its country of domicile, the primary stock exchange on which it trades, the location from which the majority of its revenue comes, and its reporting currency.

When selecting securities for the portfolio, the team favors companies with a dominant market share or niche franchise in growing and/or consolidating industries.

In addition, the team looks for companies with proven management teams, balance sheet strength, and increasing free cash flow and earnings.

The research team emphasizes companies trading at reasonable market valuations relative to perceived economic worth.

Then the manager 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 non-U.S. markets throughout the world, including emerging markets.

Also, the fund will invest in the securities of issuers located in at least five countries outside the U.S. There are no geographic limits on the fund’s non-U.S. investments.
 

The fund seeks capital appreciation in the long term by investing in small-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 focuses on foreign companies.

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 with attractive valuations, while taking into account macroeconomic considerations.

In addition, the team also evaluates the corporate governance framework of companies.

Also, the team narrows the investable universe to a list of companies on the basis of dividend yield as well as valuation multiples such as book value and earnings.

The team also prefers companies with balance sheet strength and undervalued business models.

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

From time to time, the fund may invest in one or more sectors, geographic regions and/or countries.

Additionally, up to 15% of the fund’s net assets may be invested in emerging market companies.

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 small-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 focuses on foreign companies.

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 with attractive valuations, while taking into account macroeconomic considerations.

In addition, the team also evaluates the corporate governance framework of companies.

Also, the team narrows the investable universe to a list of companies on the basis of dividend yield as well as valuation multiples such as book value and earnings.

The team also prefers companies with balance sheet strength and undervalued business models.

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

From time to time, the fund may invest in one or more sectors, geographic regions and/or countries.

Additionally, up to 15% of the fund’s net assets may be invested in emerging market companies.

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 small-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 focuses on foreign companies.

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 with attractive valuations, while taking into account macroeconomic considerations.

In addition, the team also evaluates the corporate governance framework of companies.

Also, the team narrows the investable universe to a list of companies on the basis of dividend yield as well as valuation multiples such as book value and earnings.

The team also prefers companies with balance sheet strength and undervalued business models.

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

From time to time, the fund may invest in one or more sectors, geographic regions and/or countries.

Additionally, up to 15% of the fund’s net assets may be invested in emerging market companies.

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 small-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 focuses on foreign companies.

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 with attractive valuations, while taking into account macroeconomic considerations.

In addition, the team also evaluates the corporate governance framework of companies.

Also, the team narrows the investable universe to a list of companies on the basis of dividend yield as well as valuation multiples such as book value and earnings.

The team also prefers companies with balance sheet strength and undervalued business models.

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

From time to time, the fund may invest in one or more sectors, geographic regions and/or countries.

Additionally, up to 15% of the fund’s net assets may be invested in emerging market companies.

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 small-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 companies based outside the United States, including companies in emerging and frontier as well as in developed markets.

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.

Then the manager 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 normally holds investments across at least 15 countries.

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.

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 capital appreciation in the long term by investing in small-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 companies based outside the United States, including companies in emerging and frontier as well as in developed markets.

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.

Then the manager 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 normally holds investments across at least 15 countries.

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.

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 capital appreciation in the long term by investing in small-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 focuses on securities of Japanese companies.

The team considers a Japanese company to be a company organized under the laws of Japan, for which the principal securities trading market is Japan, or that has a majority of its assets or business in Japan.

In addition, the team prefers companies with excellent businesses and management teams that are trading at attractive prices.

Also, the team looks for companies having a well-capitalized balance sheet with little debt, sustainable competitive advantage, high return on equity, above- average earnings growth rate, and superior cash flow generation.

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

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

The fund may also invest in Japan real estate investment trusts or other investment companies including exchange traded funds that invest in equity securities of Japanese companies.

The fund seeks capital appreciation in the long term by investing in small-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 focuses on securities of Japanese companies.

The team considers a Japanese company to be a company organized under the laws of Japan, for which the principal securities trading market is Japan, or that has a majority of its assets or business in Japan.

In addition, the team prefers companies with excellent businesses and management teams that are trading at attractive prices.

Also, the team looks for companies having a well-capitalized balance sheet with little debt, sustainable competitive advantage, high return on equity, above- average earnings growth rate, and superior cash flow generation.

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

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

The fund may also invest in Japan real estate investment trusts or other investment companies including exchange traded funds that invest in equity securities of Japanese companies.

The fund seeks capital appreciation in the long term by investing in small-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 European issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in Europe if it is organized under the laws of a country in Europe, or has a principal office in a country in Europe.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in Europe, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in Europe.

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 have durable earnings growth, efficient capital allocation, and attractive prices.

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

The fund may invest up to 35% of its net assets in securities of European issuers located in emerging markets countries.

Also, the fund may at times invest a significant amount of its net assets in cash and cash equivalents, including money market funds.

The fund seeks capital appreciation in the long term by investing in small-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 European issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in Europe if it is organized under the laws of a country in Europe, or has a principal office in a country in Europe.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in Europe, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in Europe.

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 have durable earnings growth, efficient capital allocation, and attractive prices.

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

The fund may invest up to 35% of its net assets in securities of European issuers located in emerging markets countries.

Also, the fund may at times invest a significant amount of its net assets in cash and cash equivalents, including money market funds.

The fund seeks capital appreciation in the long term by investing in small-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 European issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in Europe if it is organized under the laws of a country in Europe, or has a principal office in a country in Europe.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in Europe, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in Europe.

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 have durable earnings growth, efficient capital allocation, and attractive prices.

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

The fund may invest up to 35% of its net assets in securities of European issuers located in emerging markets countries.

Also, the fund may at times invest a significant amount of its net assets in cash and cash equivalents, including money market funds.

The fund seeks capital appreciation in the long term by investing in small-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 European issuers, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer is in Europe if it is organized under the laws of a country in Europe, or has a principal office in a country in Europe.

Other factors in consideration is if it derives 50% or more of its total revenues from business in countries in Europe, or its securities are trading principally on a security exchange, or in an over-the-counter market, in a country in Europe.

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 have durable earnings growth, efficient capital allocation, and attractive prices.

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

The fund may invest up to 35% of its net assets in securities of European issuers located in emerging markets countries.

Also, the fund may at times invest a significant amount of its net assets in cash and cash equivalents, including money market funds.

The fund seeks capital growth and appreciation by investing in small-size 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.

The process utilizes a blend strategy to research for both growth and value stocks, or to stocks with characteristics of both.

Next, the research team focuses on companies located in developed markets outside the United States and Canada. The team also may invest in companies located in emerging markets.

Then the team looks for attractively-valued companies that demonstrate growth at a reasonable price prospects.

In addition the team also considers companies that possess innovative and cost-effective products and services, with future growth potential.

Also, the team favors companies with a durable competitive advantage operated with proven management teams.

As part of its research process, the team also meets company management.

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

Many of the companies in which the manager may invest have diverse operations, with products or services in foreign markets. The fund may focus a portion of its investments in a particular sector or sectors of the economy. 

Additionally, the fund may invest in depositary receipts such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts of foreign issuers.

The fund seeks capital growth and appreciation by investing in small-size 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.

The process utilizes a blend strategy to research for both growth and value stocks, or to stocks with characteristics of both.

Next, the research team focuses on companies located in developed markets outside the United States and Canada. The team also may invest in companies located in emerging markets.

Then the team looks for attractively-valued companies that demonstrate growth at a reasonable price prospects.

In addition the team also considers companies that possess innovative and cost-effective products and services, with future growth potential.

Also, the team favors companies with a durable competitive advantage operated with proven management teams.

As part of its research process, the team also meets company management.

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

Many of the companies in which the manager may invest have diverse operations, with products or services in foreign markets. The fund may focus a portion of its investments in a particular sector or sectors of the economy. 

Additionally, the fund may invest in depositary receipts such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts of foreign issuers.

The fund seeks capital growth and appreciation by investing in small-size 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.

The process utilizes a blend strategy to research for both growth and value stocks, or to stocks with characteristics of both.

Next, the research team focuses on companies located in developed markets outside the United States and Canada. The team also may invest in companies located in emerging markets.

Then the team looks for attractively-valued companies that demonstrate growth at a reasonable price prospects.

In addition the team also considers companies that possess innovative and cost-effective products and services, with future growth potential.

Also, the team favors companies with a durable competitive advantage operated with proven management teams.

As part of its research process, the team also meets company management.

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

Many of the companies in which the manager may invest have diverse operations, with products or services in foreign markets. The fund may focus a portion of its investments in a particular sector or sectors of the economy. 

Additionally, the fund may invest in depositary receipts such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts of foreign issuers.

The fund seeks capital growth and appreciation by investing in small-size 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.

The process utilizes a blend strategy to research for both growth and value stocks, or to stocks with characteristics of both.

Next, the research team focuses on companies located in developed markets outside the United States and Canada. The team also may invest in companies located in emerging markets.

Then the team looks for attractively-valued companies that demonstrate growth at a reasonable price prospects.

In addition the team also considers companies that possess innovative and cost-effective products and services, with future growth potential.

Also, the team favors companies with a durable competitive advantage operated with proven management teams.

As part of its research process, the team also meets company management.

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

Many of the companies in which the manager may invest have diverse operations, with products or services in foreign markets. The fund may focus a portion of its investments in a particular sector or sectors of the economy. 

Additionally, the fund may invest in depositary receipts such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts of foreign issuers.

The fund seeks capital growth and appreciation by investing in small-size 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.

The process utilizes a blend strategy to research for both growth and value stocks, or to stocks with characteristics of both.

Next, the research team focuses on companies located in developed markets outside the United States and Canada. The team also may invest in companies located in emerging markets.

Then the team looks for attractively-valued companies that demonstrate growth at a reasonable price prospects.

In addition the team also considers companies that possess innovative and cost-effective products and services, with future growth potential.

Also, the team favors companies with a durable competitive advantage operated with proven management teams.

As part of its research process, the team also meets company management.

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

Many of the companies in which the manager may invest have diverse operations, with products or services in foreign markets. The fund may focus a portion of its investments in a particular sector or sectors of the economy. 

Additionally, the fund may invest in depositary receipts such as American Depositary Receipts, European Depositary Receipts and Global Depositary Receipts of foreign issuers.

The fund seeks capital appreciation in the long term by investing in small-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 focuses on securities of companies based in developed markets outside the U.S. as well as established companies in emerging and frontier markets.

The team relies on fundamental research to look for high-quality, sustainable growth companies that are well-managed and with financial strength.

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

The portfolio holds 70 to 80 securities across 12 countries.

In addition, the fund also may invest in securities of small U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations.

The fund seeks capital appreciation in the long term by investing in small-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 focuses on securities of companies based in developed markets outside the U.S. as well as established companies in emerging and frontier markets.

The team relies on fundamental research to look for high-quality, sustainable growth companies that are well-managed and with financial strength.

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

The portfolio holds 70 to 80 securities across 12 countries.

In addition, the fund also may invest in securities of small U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations.

The fund seeks capital appreciation in the long term by investing in small-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 focuses on securities of companies based in developed markets outside the U.S. as well as established companies in emerging and frontier markets.

The team relies on fundamental research to look for high-quality, sustainable growth companies that are well-managed and with financial strength.

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

The portfolio holds 70 to 80 securities across 12 countries.

In addition, the fund also may invest in securities of small U.S. companies that derive, or are expected to derive, a significant portion of their revenues from their foreign operations.

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

The sub-adviser’s systematic investment process attempts to create a geographically diversified fund. The fund invests in countries and companies as included in its benchmark index but applies market capitalization based weighting to determine individual weights and where applicable country or region weights.

The investment team adjusts weights for a variety of factors, including free float, momentum, trading strategies, liquidity, and market conditions. 

The fund seeks to minimize company specific risk by selecting companies with lower relative price and higher profitability.

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

The sub-adviser’s systematic investment process attempts to create a geographically diversified fund. The fund invests in countries and companies as included in its benchmark index but applies market capitalization based weighting to determine individual weights and where applicable country or region weights.

The investment team adjusts weights for a variety of factors, including free float, momentum, trading strategies, liquidity, and market conditions. 

The fund seeks to minimize company specific risk by selecting companies with lower relative price and higher profitability.

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

The sub-adviser’s systematic investment process attempts to create a geographically diversified fund. The fund invests in countries and companies as included in its benchmark index but applies market capitalization based weighting to determine individual weights and where applicable country or region weights.

The investment team adjusts weights for a variety of factors, including free float, momentum, trading strategies, liquidity, and market conditions. 

The fund seeks to minimize company specific risk by selecting companies with lower relative price and higher profitability.

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

The sub-adviser’s systematic investment process attempts to create a geographically diversified fund. The fund invests in countries and companies as included in its benchmark index but applies market capitalization based weighting to determine individual weights and where applicable country or region weights.

The investment team adjusts weights for a variety of factors, including free float, momentum, trading strategies, liquidity, and market conditions. 

The fund seeks to minimize company specific risk by selecting companies with lower relative price and higher profitability.

The fund seeks capital appreciation in the long term by investing in small-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 non-US companies that are estimated to trade below their fair values based on their earnings, cash flow or asset values.

The team utilizes a relative value investment style to identify attractive valued companies with excellent financial productivity.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team prefers well-managed non-US companies that have the potential for 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 looks to capitalize on potential price inefficiencies in small cap companies.

Additionally, the fund may invest up to 25% of its net assets in securities of companies whose principal business activities are located in emerging market countries.

The fund seeks capital appreciation in the long term by investing in small-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 non-US companies that are estimated to trade below their fair values based on their earnings, cash flow or asset values.

The team utilizes a relative value investment style to identify attractive valued companies with excellent financial productivity.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team prefers well-managed non-US companies that have the potential for 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 looks to capitalize on potential price inefficiencies in small cap companies.

Additionally, the fund may invest up to 25% of its net assets in securities of companies whose principal business activities are located in emerging market countries.

The fund seeks capital appreciation in the long term by investing in small-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 companies located in Asia ex Japan, which consists of all countries and markets in Asia excluding Japan but including all other developed, emerging and frontier countries and markets in the Asian region.

In addition, the team prefers companies that demonstrate characteristics such as durable growth. The team evaluates durable growth of companies on the basis of factors such as balance sheet information, number of employees, size and stability of cash flow.

Other factors in consideration for durable growth of companies are capability, adaptability and integrity of management teams, their product lines, marketing strategies, corporate governance, and financial health.

Additionally, the team favors companies that operate in growth industries with prospects to expand their business over time.

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

As part of its investment strategy, the fund may from time to time invest a significant portion of its net assets in one or more sectors, but the fund may invest in companies in any sector.

The fund may also invest in depositary receipts, including American, European and Global Depositary Receipts.

The fund seeks capital appreciation in the long term by investing in small-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 companies located in Asia ex Japan, which consists of all countries and markets in Asia excluding Japan but including all other developed, emerging and frontier countries and markets in the Asian region.

In addition, the team prefers companies that demonstrate characteristics such as durable growth. The team evaluates durable growth of companies on the basis of factors such as balance sheet information, number of employees, size and stability of cash flow.

Other factors in consideration for durable growth of companies are capability, adaptability and integrity of management teams, their product lines, marketing strategies, corporate governance, and financial health.

Additionally, the team favors companies that operate in growth industries with prospects to expand their business over time.

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

As part of its investment strategy, the fund may from time to time invest a significant portion of its net assets in one or more sectors, but the fund may invest in companies in any sector.

The fund may also invest in depositary receipts, including American, European and Global Depositary Receipts.

The fund seeks capital appreciation in the long term by investing in small-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.

The investment team considers an issuer to be a non-U.S. company if it maintains its principal place of business outside the United States, it generates more than 50% of its revenues from business outside the United States, or its common stock trades on an exchange outside the United States.

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 exhibit above-average potential for capital appreciation.

Also, the portfolio is broadly diversified across issuers, countries, industries and even styles, and includes either growth or value stocks.

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

Some of the companies in which the manager invests may be located in emerging market countries, which typically are developing and low- or middle-income countries.

The fund seeks capital appreciation in the long term by investing in small-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.

The investment team considers an issuer to be a non-U.S. company if it maintains its principal place of business outside the United States, it generates more than 50% of its revenues from business outside the United States, or its common stock trades on an exchange outside the United States.

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 exhibit above-average potential for capital appreciation.

Also, the portfolio is broadly diversified across issuers, countries, industries and even styles, and includes either growth or value stocks.

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

Some of the companies in which the manager invests may be located in emerging market countries, which typically are developing and low- or middle-income countries.

The fund seeks capital appreciation in the long term by investing in small-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.

The investment team considers an issuer to be a non-U.S. company if it maintains its principal place of business outside the United States, it generates more than 50% of its revenues from business outside the United States, or its common stock trades on an exchange outside the United States.

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 exhibit above-average potential for capital appreciation.

Also, the portfolio is broadly diversified across issuers, countries, industries and even styles, and includes either growth or value stocks.

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

Some of the companies in which the manager invests may be located in emerging market countries, which typically are developing and low- or middle-income countries.

The fund seeks to appreciate capital through investing in small companies outside of the United States.

The fund considers investments in developed regions and emerging markets around the world and diversifies investment across many industries, countries and geographical regions.

The investment process starts with small-size companies in the market cap range between $500 million and $3 billion and then applies fundamental research and qualitative criteria to identify profitable and well-managed companies. The research team then looks to buy companies that are trading at reasonable price compared to estimated returns.

The fund holds about 100 stocks and top 10 holdings account for 18% of total assets.

The fund seeks to appreciate capital through investing in small companies outside of the United States.

The fund considers investments in developed regions and emerging markets around the world and diversifies investment across many industries, countries and geographical regions.

The investment process starts with small-size companies in the market cap range between $500 million and $3 billion and then applies fundamental research and qualitative criteria to identify profitable and well-managed companies. The research team then looks to buy companies that are trading at reasonable price compared to estimated returns.

The fund holds about 100 stocks and top 10 holdings account for 18% of total assets.

The fund seeks to appreciate capital through investing in small companies outside of the United States.

The fund considers investments in developed regions and emerging markets around the world and diversifies investment across many industries, countries and geographical regions.

The investment process starts with small-size companies in the market cap range between $500 million and $3 billion and then applies fundamental research and qualitative criteria to identify profitable and well-managed companies. The research team then looks to buy companies that are trading at reasonable price compared to estimated returns.

The fund holds about 100 stocks and top 10 holdings account for 18% of total assets.

The fund seeks to appreciate capital through investing in small companies outside of the United States.

The fund considers investments in developed regions and emerging markets around the world and diversifies investment across many industries, countries and geographical regions.

The investment process starts with small-size companies in the market cap range between $500 million and $3 billion and then applies fundamental research and qualitative criteria to identify profitable and well-managed companies. The research team then looks to buy companies that are trading at reasonable price compared to estimated returns.

The fund holds about 100 stocks and top 10 holdings account for 18% of total assets.

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

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

Next, the research team invests in non-U.S. markets throughout the world, including emerging markets.

Then the team prefers companies that are trading at discounts to their estimated intrinsic value.

In addition, the team looks for companies with free cash flows and that emphasize prudent investment of excess cash.

Also, as part of the fundamental analysis, the team emphasizes companies whose earnings are growing and operated by proven management teams.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team utilizes independent, in-house research to analyze each company.

Also, the team visit companies and conduct other research on the companies and their industries.

Then the manager 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 typically holds 30 to 70 stocks, and as a result, a higher percentage of the fund’s net assets may at times be invested in a particular region, sector or industry.

Generally, the fund will invest in the securities of at least five countries outside of the United States. However, there are no geographic limits on the fund’s non-U.S. investments.
 

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

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

Next, the research team invests in non-U.S. markets throughout the world, including emerging markets.

Then the team prefers companies that are trading at discounts to their estimated intrinsic value.

In addition, the team looks for companies with free cash flows and that emphasize prudent investment of excess cash.

Also, as part of the fundamental analysis, the team emphasizes companies whose earnings are growing and operated by proven management teams.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team utilizes independent, in-house research to analyze each company.

Also, the team visit companies and conduct other research on the companies and their industries.

Then the manager 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 typically holds 30 to 70 stocks, and as a result, a higher percentage of the fund’s net assets may at times be invested in a particular region, sector or industry.

Generally, the fund will invest in the securities of at least five countries outside of the United States. However, there are no geographic limits on the fund’s non-U.S. investments.
 

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

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

Next, the research team invests in non-U.S. markets throughout the world, including emerging markets.

Then the team prefers companies that are trading at discounts to their estimated intrinsic value.

In addition, the team looks for companies with free cash flows and that emphasize prudent investment of excess cash.

Also, as part of the fundamental analysis, the team emphasizes companies whose earnings are growing and operated by proven management teams.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team utilizes independent, in-house research to analyze each company.

Also, the team visit companies and conduct other research on the companies and their industries.

Then the manager 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 typically holds 30 to 70 stocks, and as a result, a higher percentage of the fund’s net assets may at times be invested in a particular region, sector or industry.

Generally, the fund will invest in the securities of at least five countries outside of the United States. However, there are no geographic limits on the fund’s non-U.S. investments.
 

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

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

Next, the research team invests in non-U.S. markets throughout the world, including emerging markets.

Then the team prefers companies that are trading at discounts to their estimated intrinsic value.

In addition, the team looks for companies with free cash flows and that emphasize prudent investment of excess cash.

Also, as part of the fundamental analysis, the team emphasizes companies whose earnings are growing and operated by proven management teams.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team utilizes independent, in-house research to analyze each company.

Also, the team visit companies and conduct other research on the companies and their industries.

Then the manager 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 typically holds 30 to 70 stocks, and as a result, a higher percentage of the fund’s net assets may at times be invested in a particular region, sector or industry.

Generally, the fund will invest in the securities of at least five countries outside of the United States. However, there are no geographic limits on the fund’s non-U.S. investments.
 

The fund seeks long-term capital appreciation by investing in small-cap companies outside the United States including emerging markets.

The fund operates on a belief that investors are slow in processing new information and this persistent lag in investor’s response in recognizing positive catalyst change leads to market inefficiency.

The investment process starts with a list of companies with market capitalization between $30 million and $5 billion. The research team then using systematic principles and fundamental analysis identifies a list of companies with attractive long-term above-average earnings growth.  

Next, the team using qualitative analysis and industry research narrows the list to include companies with market leadership, competent management, and long research and development pipeline.

Then, the team using disciplined approach screens daily the list of companies for positive earnings surprises and weekly for positive earnings revisions. In addition, the team evaluates the sustainability of earnings change and scalability of business model for the potential to generate rising profit margin as the revenue accelerates.

The fund favors companies undergoing positive change and prefers to invest in companies with underappreciated earnings power. The dynamic investment process leads to high portfolio turnover and the fund allocates capital based on conviction to between 50 and 100 stocks.

The fund seeks long-term capital appreciation by investing in small-cap companies outside the United States including emerging markets.

The fund operates on a belief that investors are slow in processing new information and this persistent lag in investor’s response in recognizing positive catalyst change leads to market inefficiency.

The investment process starts with a list of companies with market capitalization between $30 million and $5 billion. The research team then using systematic principles and fundamental analysis identifies a list of companies with attractive long-term above-average earnings growth.  

Next, the team using qualitative analysis and industry research narrows the list to include companies with market leadership, competent management, and long research and development pipeline.

Then, the team using disciplined approach screens daily the list of companies for positive earnings surprises and weekly for positive earnings revisions. In addition, the team evaluates the sustainability of earnings change and scalability of business model for the potential to generate rising profit margin as the revenue accelerates.

The fund favors companies undergoing positive change and prefers to invest in companies with underappreciated earnings power. The dynamic investment process leads to high portfolio turnover and the fund allocates capital based on conviction to between 50 and 100 stocks.

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 issued by foreign markets issuers.

According to the investment team, a foreign markets issuer is an issuer operating in any industry sector that derives at least 50 percent of its gross revenues or profits from goods or services produced in non-U.S. markets or from sales made in non-U.S. markets.

Then the team seeks to identify more than 30 foreign markets securities with superior total return potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team looks to capitalize on market inefficiencies.

Then the manager 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 generally will be invested in issuers in fifteen or more foreign countries and fifteen or more industry sectors.

However, the fund may be invested in securities from any country, any industry sector, or of any market capitalization amount.

The fund is non-diversified, which means that it may invest a higher percentage of its net assets in a smaller number of issuers.
 

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 issued by foreign markets issuers.

According to the investment team, a foreign markets issuer is an issuer operating in any industry sector that derives at least 50 percent of its gross revenues or profits from goods or services produced in non-U.S. markets or from sales made in non-U.S. markets.

Then the team seeks to identify more than 30 foreign markets securities with superior total return potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team looks to capitalize on market inefficiencies.

Then the manager 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 generally will be invested in issuers in fifteen or more foreign countries and fifteen or more industry sectors.

However, the fund may be invested in securities from any country, any industry sector, or of any market capitalization amount.

The fund is non-diversified, which means that it may invest a higher percentage of its net assets in a smaller number of issuers.
 

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 issued by foreign markets issuers.

According to the investment team, a foreign markets issuer is an issuer operating in any industry sector that derives at least 50 percent of its gross revenues or profits from goods or services produced in non-U.S. markets or from sales made in non-U.S. markets.

Then the team seeks to identify more than 30 foreign markets securities with superior total return potential.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team looks to capitalize on market inefficiencies.

Then the manager 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 generally will be invested in issuers in fifteen or more foreign countries and fifteen or more industry sectors.

However, the fund may be invested in securities from any country, any industry sector, or of any market capitalization amount.

The fund is non-diversified, which means that it may invest a higher percentage of its net assets in a smaller number of issuers.
 

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 substantially all of its assets in Institutional Class shares of the PIMCO RAE International Fund and the PIMCO RAE Emerging Markets Fund known as the Underlying Funds.

Then each of the Underlying Funds obtains exposure through investment in the securities that comprise the RAE Portfolio.

Also, each Underlying Fund seeks to remain invested in the securities that comprise its respective RAE Portfolio even when the value of such RAE Portfolio is declining.

The stocks are selected from a broad universe of companies which satisfy certain liquidity and capacity requirements.

Then the team employs the RAE methodology for portfolio construction which is a rules-based model to select stocks that indicate higher expected returns on the basis of value, quality and momentum characteristics.

Next, the model weights selected stocks by evaluating a company’s sales, cash flow, dividends and book value.

The RAE methodology’s systematic portfolio rebalancing reflects a value orientation.

Then the 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’s portfolio, either directly or indirectly (through funds), will be economically tied to at least three non-U.S. countries.

The fund may also invest in real estate investment trusts.

Additionally, the fund may invest, without limitation, in securities and instruments denominated in foreign currencies and may also invest, without limitation, in securities of foreign issuers.

The fund may invest, without limitation, in securities and instruments that are economically tied to emerging market countries.

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 substantially all of its assets in Institutional Class shares of the PIMCO RAE International Fund and the PIMCO RAE Emerging Markets Fund known as the Underlying Funds.

Then each of the Underlying Funds obtains exposure through investment in the securities that comprise the RAE Portfolio.

Also, each Underlying Fund seeks to remain invested in the securities that comprise its respective RAE Portfolio even when the value of such RAE Portfolio is declining.

The stocks are selected from a broad universe of companies which satisfy certain liquidity and capacity requirements.

Then the team employs the RAE methodology for portfolio construction which is a rules-based model to select stocks that indicate higher expected returns on the basis of value, quality and momentum characteristics.

Next, the model weights selected stocks by evaluating a company’s sales, cash flow, dividends and book value.

The RAE methodology’s systematic portfolio rebalancing reflects a value orientation.

Then the 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’s portfolio, either directly or indirectly (through funds), will be economically tied to at least three non-U.S. countries.

The fund may also invest in real estate investment trusts.

Additionally, the fund may invest, without limitation, in securities and instruments denominated in foreign currencies and may also invest, without limitation, in securities of foreign issuers.

The fund may invest, without limitation, in securities and instruments that are economically tied to emerging market countries.

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 substantially all of its assets in Institutional Class shares of the PIMCO RAE International Fund and the PIMCO RAE Emerging Markets Fund known as the Underlying Funds.

Then each of the Underlying Funds obtains exposure through investment in the securities that comprise the RAE Portfolio.

Also, each Underlying Fund seeks to remain invested in the securities that comprise its respective RAE Portfolio even when the value of such RAE Portfolio is declining.

The stocks are selected from a broad universe of companies which satisfy certain liquidity and capacity requirements.

Then the team employs the RAE methodology for portfolio construction which is a rules-based model to select stocks that indicate higher expected returns on the basis of value, quality and momentum characteristics.

Next, the model weights selected stocks by evaluating a company’s sales, cash flow, dividends and book value.

The RAE methodology’s systematic portfolio rebalancing reflects a value orientation.

Then the 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’s portfolio, either directly or indirectly (through funds), will be economically tied to at least three non-U.S. countries.

The fund may also invest in real estate investment trusts.

Additionally, the fund may invest, without limitation, in securities and instruments denominated in foreign currencies and may also invest, without limitation, in securities of foreign issuers.

The fund may invest, without limitation, in securities and instruments that are economically tied to emerging market countries.

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

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

Next, the research team focuses on high quality, core businesses in the world's least developed economies or markets, such as emerging and frontier markets.

The team also relies on quantitative screening to identify companies that offer durable returns.

In addition, the team seeks to invest in what it considers to be great companies at good prices and good companies at great prices. 

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

The asset allocation may significantly shift between asset classes, sectors and geographic regions.

The fund may invest 40% of its net assets in securities of issuers either organized or having headquarters in countries outside the United States, or issuers have a majority of their assets or revenues attributable to countries outside the United States.

Also, the fund emphasizes issuers that will typically be organized, headquartered or economically linked to not less than three different countries other than the United States.

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 high quality, core businesses in the world's least developed economies or markets, such as emerging and frontier markets.

The team also relies on quantitative screening to identify companies that offer durable returns.

In addition, the team seeks to invest in what it considers to be great companies at good prices and good companies at great prices. 

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

The asset allocation may significantly shift between asset classes, sectors and geographic regions.

The fund may invest 40% of its net assets in securities of issuers either organized or having headquarters in countries outside the United States, or issuers have a majority of their assets or revenues attributable to countries outside the United States.

Also, the fund emphasizes issuers that will typically be organized, headquartered or economically linked to not less than three different countries other than the United States.

The fund seeks capital appreciation in the long term by investing in small-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 issued by non-U.S. (international) companies headquartered outside of the United States.

The team favors companies that are trading at discounts to their estimated intrinsic value referred to as premier companies.

Also, the team emphasizes companies with balance sheet strength, and/or excellent business prospects.

In addition, the team considers companies with the potential for improvement in cash flow levels and internal rates of return.

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 company-specific criteria rather than on political, economic, or other country-specific factors.

Then the manager 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 securities of international companies headquartered in at least three different countries.

The portfolio generally holds less than 100 securities.

From time to time, a substantial portion of the fund’s assets may be invested in companies that are headquartered in a single country.

However, no more than 35% of the fund’s net assets may be invested in securities of companies headquartered in developing countries.

Generally, developing countries include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries.

The fund seeks capital appreciation in the long term by investing in small-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 issued by non-U.S. (international) companies headquartered outside of the United States.

The team favors companies that are trading at discounts to their estimated intrinsic value referred to as premier companies.

Also, the team emphasizes companies with balance sheet strength, and/or excellent business prospects.

In addition, the team considers companies with the potential for improvement in cash flow levels and internal rates of return.

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 company-specific criteria rather than on political, economic, or other country-specific factors.

Then the manager 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 securities of international companies headquartered in at least three different countries.

The portfolio generally holds less than 100 securities.

From time to time, a substantial portion of the fund’s assets may be invested in companies that are headquartered in a single country.

However, no more than 35% of the fund’s net assets may be invested in securities of companies headquartered in developing countries.

Generally, developing countries include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries.

The fund seeks capital appreciation in the long term by investing in small-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 issued by non-U.S. (international) companies headquartered outside of the United States.

The team favors companies that are trading at discounts to their estimated intrinsic value referred to as premier companies.

Also, the team emphasizes companies with balance sheet strength, and/or excellent business prospects.

In addition, the team considers companies with the potential for improvement in cash flow levels and internal rates of return.

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 company-specific criteria rather than on political, economic, or other country-specific factors.

Then the manager 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 securities of international companies headquartered in at least three different countries.

The portfolio generally holds less than 100 securities.

From time to time, a substantial portion of the fund’s assets may be invested in companies that are headquartered in a single country.

However, no more than 35% of the fund’s net assets may be invested in securities of companies headquartered in developing countries.

Generally, developing countries include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries.

The fund seeks capital appreciation in the long term by investing in small-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 issued by non-U.S. (international) companies headquartered outside of the United States.

The team favors companies that are trading at discounts to their estimated intrinsic value referred to as premier companies.

Also, the team emphasizes companies with balance sheet strength, and/or excellent business prospects.

In addition, the team considers companies with the potential for improvement in cash flow levels and internal rates of return.

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 company-specific criteria rather than on political, economic, or other country-specific factors.

Then the manager 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 securities of international companies headquartered in at least three different countries.

The portfolio generally holds less than 100 securities.

From time to time, a substantial portion of the fund’s assets may be invested in companies that are headquartered in a single country.

However, no more than 35% of the fund’s net assets may be invested in securities of companies headquartered in developing countries.

Generally, developing countries include every country in the world other than the United States, Canada, Japan, Australia, New Zealand, Hong Kong, Singapore, South Korea, Taiwan, Bermuda, Israel, and Western European countries.

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

However, the fund invests substantially all of its net assets in the International Small Company Portfolio of DFA Investment Dimensions Group Inc.

The DFA Portfolio seeks to provide investors with access to securities portfolios consisting of a broad range of equity securities of primarily small Japanese, United Kingdom, Continental European, Asia Pacific and Canadian companies.

The DFA Portfolio invests substantially all of its assets in: The Japanese Small Company Series (the Japanese Series), The United Kingdom Small Company Series (the United Kingdom Series), The Continental Small Company Series (the Continental Series), The Asia Pacific Small Company Series (the Asia Pacific Series) and The Canadian Small Company Series (the Canadian Series) (each an Underlying Fund and together, the Underlying Funds).

Each Underlying Fund invests in small companies using a market capitalization weighted approach in each country or region designated by the sub-adviser as an approved market for investment.

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 sub-adviser has the flexibility to adjust the representation or exclude a company in the Underlying Funds based on factors such as free float, size, value, profitability, trading strategies, liquidity, and momentum.

In assessing a company’s investment characteristics, the research team may consider ratios such as recent changes in assets or book value scaled by assets or book 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 allocation of the assets of the DFA Portfolio to be invested in the Underlying Funds will be determined by the sub-adviser on at least a semi-annual basis.

However, the Underlying Funds invest primarily in developed market countries.

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

However, the fund invests substantially all of its net assets in the International Small Company Portfolio of DFA Investment Dimensions Group Inc.

The DFA Portfolio seeks to provide investors with access to securities portfolios consisting of a broad range of equity securities of primarily small Japanese, United Kingdom, Continental European, Asia Pacific and Canadian companies.

The DFA Portfolio invests substantially all of its assets in: The Japanese Small Company Series (the Japanese Series), The United Kingdom Small Company Series (the United Kingdom Series), The Continental Small Company Series (the Continental Series), The Asia Pacific Small Company Series (the Asia Pacific Series) and The Canadian Small Company Series (the Canadian Series) (each an Underlying Fund and together, the Underlying Funds).

Each Underlying Fund invests in small companies using a market capitalization weighted approach in each country or region designated by the sub-adviser as an approved market for investment.

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 sub-adviser has the flexibility to adjust the representation or exclude a company in the Underlying Funds based on factors such as free float, size, value, profitability, trading strategies, liquidity, and momentum.

In assessing a company’s investment characteristics, the research team may consider ratios such as recent changes in assets or book value scaled by assets or book 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 allocation of the assets of the DFA Portfolio to be invested in the Underlying Funds will be determined by the sub-adviser on at least a semi-annual basis.

However, the Underlying Funds invest primarily in developed market 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 foreign companies that are trading at discounts to their estimated intrinsic value with the potential to grow their earnings and cash flow.

The team prefers cash-generative companies at attractive valuations.

In addition, the team also looks for key attributes in companies including free cash flow, earnings growth, return on invested capital, balance sheet strength and relative upside to its estimate of intrinsic value.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team constructs a portfolio designed to generate alpha, or risk-adjusted excess return, relative to the benchmark.

Additionally, the team considers a company’s environmental, social, and corporate governance practices.

Then the manager 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 35 to 60 securities of companies.

The fund invests its net assets in stocks of foreign companies in developed countries, and, to a lesser extent, in emerging markets and/or in U.S.-based companies.

Also, the fund considers foreign companies to include those domiciled outside of the United States or with the principal trading market of their securities outside of the United States.

The investment team considers developed countries to be Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.

However, the fund considers emerging market countries to be those countries that are neither the United States nor developed 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 foreign companies that are trading at discounts to their estimated intrinsic value with the potential to grow their earnings and cash flow.

The team prefers cash-generative companies at attractive valuations.

In addition, the team also looks for key attributes in companies including free cash flow, earnings growth, return on invested capital, balance sheet strength and relative upside to its estimate of intrinsic value.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team constructs a portfolio designed to generate alpha, or risk-adjusted excess return, relative to the benchmark.

Additionally, the team considers a company’s environmental, social, and corporate governance practices.

Then the manager 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 35 to 60 securities of companies.

The fund invests its net assets in stocks of foreign companies in developed countries, and, to a lesser extent, in emerging markets and/or in U.S.-based companies.

Also, the fund considers foreign companies to include those domiciled outside of the United States or with the principal trading market of their securities outside of the United States.

The investment team considers developed countries to be Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.

However, the fund considers emerging market countries to be those countries that are neither the United States nor developed countries.

The fund seeks total return performance of a benchmark index before fees and expenses by investing in small-size companies outside the United States.

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

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

However, the research team may cause the fund’s weighting of a stock to be more or less than the index’s weighting of the stock for tax or to address liquidity considerations.

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

The team utilizes an indexing approach for buying a basket of securities that compose the index. The process seeks a correlation of 0.95 or better between the fund’s performance and the performance of the index.

The research team also employs a sampling methodology or quantitative analysis to obtain a basket of stocks that resembles the index in terms of key risk factors, and performance attributes.

At times, it may not be possible or practicable to buy all of the securities of the Index, or to replicate the weightings in the Index.

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

The fund may hold 25% or more of its net assets in an industry or group of industries to approximately the extent that the index the fund is designed to track is also so concentrated.

The fund seeks capital appreciation in the long term by investing in small-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 companies located outside of the United States, including those in emerging markets.

The team considers a company to be outside of the United States if it is organized under the laws of a foreign country or maintains its principal offices or headquarters in a foreign country.

Other factors would be if a company’s securities are principally traded in a foreign country, or it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in a foreign country, or has at least 50% of its assets in a foreign country.

Then the team utilizes a quantitatively driven process with stock selection model based on valuation, profitability and momentum factors.

In addition, the team prefers companies that are trading at discounts to their estimated intrinsic value, but also demonstrating positive earnings and price momentum.

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

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

The manager will allocate its assets among various regions and countries including those in emerging markets.

The portfolio holds companies with traditional value characteristics coupled with positive company fundamentals and momentum factors.

The fund has a diversified exposure with geographic and sector neutrality.

The fund seeks capital appreciation in the long term by investing in small-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 companies located outside of the United States, including those in emerging markets.

The team considers a company to be outside of the United States if it is organized under the laws of a foreign country or maintains its principal offices or headquarters in a foreign country.

Other factors would be if a company’s securities are principally traded in a foreign country, or it derives at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in a foreign country, or has at least 50% of its assets in a foreign country.

Then the team utilizes a quantitatively driven process with stock selection model based on valuation, profitability and momentum factors.

In addition, the team prefers companies that are trading at discounts to their estimated intrinsic value, but also demonstrating positive earnings and price momentum.

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

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

The manager will allocate its assets among various regions and countries including those in emerging markets.

The portfolio holds companies with traditional value characteristics coupled with positive company fundamentals and momentum factors.

The fund has a diversified exposure with geographic and sector neutrality.

The fund seeks capital appreciation in the long term by investing in small-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 focuses on companies located outside the U.S., including emerging markets.

The team relies on fundamental analysis to focus on the market price of a company’s securities relative to its long-term earnings, asset value and cash flow potential.

The investment manager also considers a company’s valuation multiple such as earnings and liquidation 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 may invest more than 25% of its net assets in the securities of issuers located in any one country.
 

The fund seeks to generate capital appreciation through investing in small-size international companies outside the U.S.

The rules-based systematic process is designed is to build a portfolio of stocks that are likely to discover companies that are trading at a discount to their peers or the market and generate favorable long term returns and provide an incremental return to the fund’s benchmark MSCI All Cap Weighted ex USA Index.

The process uses proprietary quantitative models based on econometric and statistical techniques to evaluate and score a broad range of securities in the MSCI ACWI ex US Index in which the fund invests. These models take into account various factors including valuations, future growth prospects and the momentum in price and trading volume. The score or the ranking on individual stock is used to form the portfolio.

The fund seeks to generate capital appreciation through investing in small-size international companies outside the U.S.

The rules-based systematic process is designed is to build a portfolio of stocks that are likely to discover companies that are trading at a discount to their peers or the market and generate favorable long term returns and provide an incremental return to the fund’s benchmark MSCI All Cap Weighted ex USA Index.

The process uses proprietary quantitative models based on econometric and statistical techniques to evaluate and score a broad range of securities in the MSCI ACWI ex US Index in which the fund invests. These models take into account various factors including valuations, future growth prospects and the momentum in price and trading volume. The score or the ranking on individual stock is used to form the portfolio.

The fund seeks to generate capital appreciation through investing in small-size international companies outside the U.S.

The rules-based systematic process is designed is to build a portfolio of stocks that are likely to discover companies that are trading at a discount to their peers or the market and generate favorable long term returns and provide an incremental return to the fund’s benchmark MSCI All Cap Weighted ex USA Index.

The process uses proprietary quantitative models based on econometric and statistical techniques to evaluate and score a broad range of securities in the MSCI ACWI ex US Index in which the fund invests. These models take into account various factors including valuations, future growth prospects and the momentum in price and trading volume. The score or the ranking on individual stock is used to form the portfolio.

The fund seeks to generate capital appreciation through investing in small-size international companies outside the U.S.

The rules-based systematic process is designed is to build a portfolio of stocks that are likely to discover companies that are trading at a discount to their peers or the market and generate favorable long term returns and provide an incremental return to the fund’s benchmark MSCI All Cap Weighted ex USA Index.

The process uses proprietary quantitative models based on econometric and statistical techniques to evaluate and score a broad range of securities in the MSCI ACWI ex US Index in which the fund invests. These models take into account various factors including valuations, future growth prospects and the momentum in price and trading volume. The score or the ranking on individual stock is used to form the portfolio.

The fund seeks to generate capital appreciation through investing in small-size international companies outside the U.S.

The rules-based systematic process is designed is to build a portfolio of stocks that are likely to discover companies that are trading at a discount to their peers or the market and generate favorable long term returns and provide an incremental return to the fund’s benchmark MSCI All Cap Weighted ex USA Index.

The process uses proprietary quantitative models based on econometric and statistical techniques to evaluate and score a broad range of securities in the MSCI ACWI ex US Index in which the fund invests. These models take into account various factors including valuations, future growth prospects and the momentum in price and trading volume. The score or the ranking on individual stock is used to form the portfolio.

The fund seeks capital appreciation in the long term by investing in 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 focuses on securities of foreign issuers, and may also invest through, but not limited to, American Depository Receipts and other depositary receipts.

In determining whether an issuer is foreign, the team considers where the issuer is headquartered or its principal operations are located, or where the issuer’s revenues are derived, where the principal trading market is located and the country in which the issuer is legally organized.

The team favors growing businesses with solid fundamentals, attractive profitability, and proven management teams.

Also, the team holds securities with long-term investment horizons.

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

The portfolio generally holds between 25 and 50 securities.

The fund intends to invest in securities of issuers from at least three different countries outside of the United States, including issuers in emerging market countries.

From time to time, the fund may invest more than 25% of its net assets in issuers connected to China, and in issuers in other emerging market countries.

Additionally, the fund may, from time to time, have significant exposure to one or more issuers, geographic regions or sectors of the global economy.

The fund may focus its investments in a particular sector or sectors of the economy.

The fund seeks capital appreciation in the long term by investing in 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 focuses on securities of foreign issuers, and may also invest through, but not limited to, American Depository Receipts and other depositary receipts.

In determining whether an issuer is foreign, the team considers where the issuer is headquartered or its principal operations are located, or where the issuer’s revenues are derived, where the principal trading market is located and the country in which the issuer is legally organized.

The team favors growing businesses with solid fundamentals, attractive profitability, and proven management teams.

Also, the team holds securities with long-term investment horizons.

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

The portfolio generally holds between 25 and 50 securities.

The fund intends to invest in securities of issuers from at least three different countries outside of the United States, including issuers in emerging market countries.

From time to time, the fund may invest more than 25% of its net assets in issuers connected to China, and in issuers in other emerging market countries.

Additionally, the fund may, from time to time, have significant exposure to one or more issuers, geographic regions or sectors of the global economy.

The fund may focus its investments in a particular sector or sectors of the economy.

The fund seeks capital appreciation in the long term by investing in 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 focuses on securities of foreign issuers, and may also invest through, but not limited to, American Depository Receipts and other depositary receipts.

In determining whether an issuer is foreign, the team considers where the issuer is headquartered or its principal operations are located, or where the issuer’s revenues are derived, where the principal trading market is located and the country in which the issuer is legally organized.

The team favors growing businesses with solid fundamentals, attractive profitability, and proven management teams.

Also, the team holds securities with long-term investment horizons.

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

The portfolio generally holds between 25 and 50 securities.

The fund intends to invest in securities of issuers from at least three different countries outside of the United States, including issuers in emerging market countries.

From time to time, the fund may invest more than 25% of its net assets in issuers connected to China, and in issuers in other emerging market countries.

Additionally, the fund may, from time to time, have significant exposure to one or more issuers, geographic regions or sectors of the global economy.

The fund may focus its investments in a particular sector or sectors of the economy.

The fund seeks capital appreciation in the long term by investing in 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 focuses on securities of foreign issuers, and may also invest through, but not limited to, American Depository Receipts and other depositary receipts.

In determining whether an issuer is foreign, the team considers where the issuer is headquartered or its principal operations are located, or where the issuer’s revenues are derived, where the principal trading market is located and the country in which the issuer is legally organized.

The team favors growing businesses with solid fundamentals, attractive profitability, and proven management teams.

Also, the team holds securities with long-term investment horizons.

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

The portfolio generally holds between 25 and 50 securities.

The fund intends to invest in securities of issuers from at least three different countries outside of the United States, including issuers in emerging market countries.

From time to time, the fund may invest more than 25% of its net assets in issuers connected to China, and in issuers in other emerging market countries.

Additionally, the fund may, from time to time, have significant exposure to one or more issuers, geographic regions or sectors of the global economy.

The fund may focus its investments in a particular sector or sectors of the economy.

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in small-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 stocks of companies located in developed markets, including Europe, the Pacific, and Canada, and in emerging markets.

The team seeks to track the investment performance of the FTSE Global Small Cap ex US Index.

The Index includes approximately 3,300 stocks of companies located in more than 46 countries, including both developed and emerging markets.

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

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in small-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 stocks of companies located in developed markets, including Europe, the Pacific, and Canada, and in emerging markets.

The team seeks to track the investment performance of the FTSE Global Small Cap ex US Index.

The Index includes approximately 3,300 stocks of companies located in more than 46 countries, including both developed and emerging markets.

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

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in small-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 stocks of companies located in developed markets, including Europe, the Pacific, and Canada, and in emerging markets.

The team seeks to track the investment performance of the FTSE Global Small Cap ex US Index.

The Index includes approximately 3,300 stocks of companies located in more than 46 countries, including both developed and emerging markets.

Then the manager constructs a portfolio 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 small-size companies outside the United States.

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

The fund manages assets with the help of four advisors namely Wellington Management Company LLP, Schroder Investment Management North America Inc., Baillie Gifford Overseas Limited, and TimesSquare Capital Management, LLC.

Each advisor independently selects and maintains a portfolio of stocks for the fund.

Wellington seeks to identify both growth-oriented and neglected or misunderstood companies that have a well-articulated business model, experienced management, a sustainable competitive advantage, and superior financial characteristics.

Schroder focuses on a company’s long-term growth potential, financial condition, management quality, and sensitivity to cyclical factors, as well as the value of the company’s securities relative to other companies and the market.

Baillie Gifford prefers high-quality growth companies with durable competitive advantages.

TimesSquare Capital aims to generate superior risk-adjusted returns.

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 grow at a faster pace than the overall market.

The team prefers companies that demonstrate above-average earnings growth potential, with attractive valuations and a durable competitive advantage.

Then the manager 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 more than 350 stocks in over 20 countries.

Also, the fund invests in the developed European and Pacific markets, with about 10% of assets invested in emerging markets. 

Additionally, the fund manages a small portion of its net assets in stock index futures and/or exchange-traded funds to facilitate cash flows to and from the fund’s advisors.

The fund seeks to invest in small-size companies around the world outside the United States.

The fund is sub-advised by Kayne Anderson Rudnick Investment Management, LLC with a focus on investing in companies with a dividend track record.

The investment process looks for companies with durable business franchise, low earnings variability and high return on capital. Then the research team narrows down the list to companies that have a need for low external financing.

The fund invests in about 30 to 60 stocks and allocates about 40% of capital to top 10 holdings. Geographically the fund diversified in ten countries with about 70% of total investments in the U.K., Sweden, Germany, Russia, France, Taiwan, Japan, Canada, China and Finland.

The fund seeks to invest in small-size companies around the world outside the United States.

The fund is sub-advised by Kayne Anderson Rudnick Investment Management, LLC with a focus on investing in companies with a dividend track record.

The investment process looks for companies with durable business franchise, low earnings variability and high return on capital. Then the research team narrows down the list to companies that have a need for low external financing.

The fund invests in about 30 to 60 stocks and allocates about 40% of capital to top 10 holdings. Geographically the fund diversified in ten countries with about 70% of total investments in the U.K., Sweden, Germany, Russia, France, Taiwan, Japan, Canada, China and Finland.

The fund seeks to invest in small-size companies around the world outside the United States.

The fund is sub-advised by Kayne Anderson Rudnick Investment Management, LLC with a focus on investing in companies with a dividend track record.

The investment process looks for companies with durable business franchise, low earnings variability and high return on capital. Then the research team narrows down the list to companies that have a need for low external financing.

The fund invests in about 30 to 60 stocks and allocates about 40% of capital to top 10 holdings. Geographically the fund diversified in ten countries with about 70% of total investments in the U.K., Sweden, Germany, Russia, France, Taiwan, Japan, Canada, China and Finland.

The fund seeks to invest in small-size companies around the world outside the United States.

The fund is sub-advised by Kayne Anderson Rudnick Investment Management, LLC with a focus on investing in companies with a dividend track record.

The investment process looks for companies with durable business franchise, low earnings variability and high return on capital. Then the research team narrows down the list to companies that have a need for low external financing.

The fund invests in about 30 to 60 stocks and allocates about 40% of capital to top 10 holdings. Geographically the fund diversified in ten countries with about 70% of total investments in the U.K., Sweden, Germany, Russia, France, Taiwan, Japan, Canada, China and Finland.

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

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

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

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

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

Next, the research team focuses on stocks of international issuers, including companies located in countries with emerging securities markets.

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

The portfolio holds both growth and value stocks.

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

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

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

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

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

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

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

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

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

Next, the research team focuses on stocks of international issuers, including companies located in countries with emerging securities markets.

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

The portfolio holds both growth and value stocks.

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

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

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

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

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

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

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

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

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

Next, the research team focuses on stocks of international issuers, including companies located in countries with emerging securities markets.

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

The portfolio holds both growth and value stocks.

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

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

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

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

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

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

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

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

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

Next, the research team focuses on stocks of international issuers, including companies located in countries with emerging securities markets.

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

The portfolio holds both growth and value stocks.

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

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

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

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

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

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

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

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

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

Next, the research team focuses on stocks of international issuers, including companies located in countries with emerging securities markets.

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

The portfolio holds both growth and value stocks.

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

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

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

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