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

The investment process is designed to highlight companies that invest in the electronic technology industry. The investment team has the flexibility to invest more than 25%, and as much as 100%, of the fund’s net assets in that particular industry.

Next, the research process is driven by fundamental analysis of one stock at a time to select investment opportunities.

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

The portfolio typically holds a core position of between 20 and 30 stocks.

The manager employs a flexible investment style and seeks to take advantage of opportunities as they arise. As a consequence, the fund generally has a high rate of portfolio turnover.

The fund may invest without limitation in securities of foreign issuers and certain types of exchange traded funds.

Also, the fund is non-diversified.
 

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

The investment process is designed to highlight companies that invest in securities of emerging technology companies that are well-positioned to become market leaders.

The investment team believes emerging technology companies have the potential to develop, or are expected to benefit from, new technology or significant improvements or enhancements to existing technology.

Next, the research team utilizes a top-down technique to analyze economic conditions, sectors and industries.

The research process is driven by fundamental analysis of one stock at a time. The team evaluates a company on the basis of its earnings growth potential and management team.

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

Additionally, the fund has the flexibility to own stocks of newer, less-established companies of any size.

The fund may, to a lesser extent, invest in equity REITs, common stocks of foreign companies and American Depositary Receipts.
 

The fund seeks capital appreciation by investing in developers or beneficiaries of technological innovation.

The investment process focuses on identifying companies in early, disruptive, cyclical, and stable growth phase.

The research team using fundamental research and quantitative techniques identifies companies with a proven track record of earnings and above-average free cash flow growth and return on capital.

The team applies qualitative research to understand the drivers and quality of growth and its sustainability in the long term.

The fund favors investing in companies with high-conviction, clear earnings growth outlook, and financial strength.

The fund seeks capital appreciation by investing in developers or beneficiaries of technological innovation.

The investment process focuses on identifying companies in early, disruptive, cyclical, and stable growth phase.

The research team using fundamental research and quantitative techniques identifies companies with a proven track record of earnings and above-average free cash flow growth and return on capital.

The team applies qualitative research to understand the drivers and quality of growth and its sustainability in the long term.

The fund favors investing in companies with high-conviction, clear earnings growth outlook, and financial strength.

The fund seeks capital appreciation by investing in developers or beneficiaries of technological innovation.

The investment process focuses on identifying companies in early, disruptive, cyclical, and stable growth phase.

The research team using fundamental research and quantitative techniques identifies companies with a proven track record of earnings and above-average free cash flow growth and return on capital.

The team applies qualitative research to understand the drivers and quality of growth and its sustainability in the long term.

The fund favors investing in companies with high-conviction, clear earnings growth outlook, and financial strength.

The fund seeks capital appreciation by investing in developers or beneficiaries of technological innovation.

The investment process focuses on identifying companies in early, disruptive, cyclical, and stable growth phase.

The research team using fundamental research and quantitative techniques identifies companies with a proven track record of earnings and above-average free cash flow growth and return on capital.

The team applies qualitative research to understand the drivers and quality of growth and its sustainability in the long term.

The fund favors investing in companies with high-conviction, clear earnings growth outlook, and financial strength.

The fud seeks to appreciate capital by investing technology sector.

The investment process is driven by finding tech and science companies with market leadership, quality management, superior financial statements and attractive long-term growth prospects.

The research process relies on both quantitative and qualitative aspects of stock selection and also focuses on a top down analysis of individual industry sectors. The sectors that are estimated to undergo positive changes are likely to get higher allocation of capital.

The fund generally invests in large-cap companies in the U.S. but has the flexibility to invest across all market capitalizations and up to 35% of its holdings in international tech companies including in emerging markets.

The fud seeks to appreciate capital by investing technology sector.

The investment process is driven by finding tech and science companies with market leadership, quality management, superior financial statements and attractive long-term growth prospects.

The research process relies on both quantitative and qualitative aspects of stock selection and also focuses on a top down analysis of individual industry sectors. The sectors that are estimated to undergo positive changes are likely to get higher allocation of capital.

The fund generally invests in large-cap companies in the U.S. but has the flexibility to invest across all market capitalizations and up to 35% of its holdings in international tech companies including in emerging markets.

The fud seeks to appreciate capital by investing technology sector.

The investment process is driven by finding tech and science companies with market leadership, quality management, superior financial statements and attractive long-term growth prospects.

The research process relies on both quantitative and qualitative aspects of stock selection and also focuses on a top down analysis of individual industry sectors. The sectors that are estimated to undergo positive changes are likely to get higher allocation of capital.

The fund generally invests in large-cap companies in the U.S. but has the flexibility to invest across all market capitalizations and up to 35% of its holdings in international tech companies including in emerging markets.

The fud seeks to appreciate capital by investing technology sector.

The investment process is driven by finding tech and science companies with market leadership, quality management, superior financial statements and attractive long-term growth prospects.

The research process relies on both quantitative and qualitative aspects of stock selection and also focuses on a top down analysis of individual industry sectors. The sectors that are estimated to undergo positive changes are likely to get higher allocation of capital.

The fund generally invests in large-cap companies in the U.S. but has the flexibility to invest across all market capitalizations and up to 35% of its holdings in international tech companies including in emerging markets.

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

The investment process is designed to highlight companies that are principally engaged in the design, manufacture, or sale of electronic components; equipment vendors to electronic component manufacturers; electronic component distributors; and electronic instruments and electronic systems vendors.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies that are principally engaged in the design, manufacture, or sale of electronic components; equipment vendors to electronic component manufacturers; electronic component distributors; and electronic instruments and electronic systems vendors.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies that are principally engaged in the design, manufacture, or sale of electronic components; equipment vendors to electronic component manufacturers; electronic component distributors; and electronic instruments and electronic systems vendors.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies that are principally engaged in the design, manufacture, or sale of electronic components; equipment vendors to electronic component manufacturers; electronic component distributors; and electronic instruments and electronic systems vendors.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies that are principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to highlight companies that are principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to highlight companies that are principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to highlight companies that are principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to highlight companies that are principally engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to highlight companies that are engaged in research, design, development, manufacture or distribution of products, processes, or services that relate to currently available or experimental hardware technology within the computer industry.

The strategy seeks to outperform its benchmark index through active management.

Next, the research team looks for companies whose long-term earnings- and cash-flow potential are misunderstood by the market.

The team emphasizes companies with positive earnings revisions and improving fundamentals.

In addition, the team considers securities of attractive technology companies outside of the benchmark that offer the potential for favorable risk-adjusted returns.

The research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to highlight companies that are engaged in providing information technology services.

The strategy seeks to outperform its benchmark index through active management.

Next, the research team focuses on companies with consistent earnings growth and a competitive advantage due to factors such as high barriers to entry and pricing power.

In addition, the team looks for companies that can grow earnings at a faster rate than what is reflected in the stock price.

The team then narrows the investable universe to a list of companies with a good business model, growth in revenue and resilience, steady or improving margins, superior capital allocation; and reasonable valuation.

The research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The manager favors securities that are attractively priced on current earnings and have the potential to become more attractive with better growth or capital allocation.

The fund also considers technology stocks outside of the benchmark that offer the potential for favorable risk-adjusted returns.

Also, the fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies principally engaged in the design, manufacture, or sale of semiconductors and semiconductor equipment.

The investment team also focuses on companies that are engaged in the design, manufacture, or sale of electronic components, equipment vendors to electronic component manufacturers, electronic component distributors, and electronic instruments and electronic systems vendors.

The strategy seeks to outperform its benchmark index through active management.

Next, the research team relies on fundamental analysis to look for superior growth companies trading at attractive prices.

The team focuses on companies that are mispriced on their estimates of earnings and cash flow growth in the long term.

The research team also evaluates a company’s financial condition and industry position, as well as market and economic conditions.

In addition, the team considers attractive technology stocks outside of the benchmark that offer the potential for favorable risk-adjusted returns.

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

The manager looks to capitalize on dislocations caused due to the cyclical nature of the semiconductor industry.

The fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies principally engaged in research, design, production or distribution of products or processes that relate to software or information-based services.

The strategy seeks to outperform its benchmark index through active management.

Next, the research team emphasizes above-average companies with above-average growth rates trading at below-average valuations.

Then the research process is driven by fundamental analysis of one stock at a time driven by earnings growth and valuation expansion over the long term.

The team prefers self-funding business models with significant barriers to entry and proven management teams that can be purchased at a favorable price.

In addition, the team considers attractive technology stocks outside of the benchmark that offer the potential for favorable risk-adjusted returns.

Next, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.

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

The investment process is designed to highlight companies that are engaged in offering, using, or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The strategy seeks to outperform its benchmark index through active management.

The investment team believes technology stocks can be mispriced when long-term growth is underestimated, turnaround stories are misunderstood or cyclical rebounds have been unanticipated.

Next, the team relies on fundamental, bottom-up research to identify global technology companies whose future earnings power is not reflected in their current valuations.

In addition, the team narrows the investable universe into secular-growth companies, underappreciated earnings compounders, depressed cyclical companies with a catalyst for an upturn, and special situations.

Also, the research 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 in the benchmark index favored by the research team and allocates capital based on its conviction level.

The fund has the flexibility to invest in domestic and foreign issuers.
 

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

The investment process is designed to invest in high-technology companies.

The investment team considers a high-technology company to be one that employs a relatively high degree of engineering and/or scientific intensity to deliver its products or services.

Next, the research team focuses on companies in the industries and markets that exhibit the greatest growth potential within the technology sector.

The team relies on fundamental analysis to highlight companies whose intrinsic value is not fully reflected in current market prices.

When evaluating a company’s intrinsic value, the team assesses various factors that influence its earnings potential such as the capability of the technology, breadth of product line, and barriers to entry which include patents and other intellectual property rights.

Also, the research team considers the competitive landscape, product development, marketing acumen, and quality of management and vision of a company.

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

Additionally, the fund has the flexibility to own stocks of newer, less-established companies in the small- or mid-cap categories.

There is also no percentage limit on the fund’s ability to invest in securities of foreign issuers.

The fund is non-diversified, which means that it invests in fewer companies than a diversified fund.
 

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

The investment process is designed to highlight companies principally engaged in the research, design, development, manufacturing, or distributing of products or services in the technology industry.

The investment team focuses in industries related to application software, communications equipment, data processing, electronic components and manufacturing services.

Other industries also include home entertainment software, internet and direct marketing retailers, internet software and services, IT consulting, semiconductor equipment, systems software, and technology hardware, storage, and distributors.

Next, the research team narrows the investable universe to a list of companies from the S&P Capital IQ Database.

The team identifies potential investment opportunities having attributes such as industry-leading cash flows and profits, track record of delivering returns in excess of cost of capital, attractive relative valuation and balance sheet risk profile, ability to generate cash, and consistent profitability potential.

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

The manager maintains a relatively concentrated portfolio of technology stocks.

However, the universe of stocks is re-screened and the portfolio is rebalanced approximately on a monthly basis.

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

The investment process is designed to highlight companies principally engaged in the research, design, development, manufacturing, or distributing of products or services in the technology industry.

The investment team focuses in industries related to application software, communications equipment, data processing, electronic components and manufacturing services.

Other industries also include home entertainment software, internet and direct marketing retailers, internet software and services, IT consulting, semiconductor equipment, systems software, and technology hardware, storage, and distributors.

Next, the research team narrows the investable universe to a list of companies from the S&P Capital IQ Database.

The team identifies potential investment opportunities having attributes such as industry-leading cash flows and profits, track record of delivering returns in excess of cost of capital, attractive relative valuation and balance sheet risk profile, ability to generate cash, and consistent profitability potential.

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

The manager maintains a relatively concentrated portfolio of technology stocks.

However, the universe of stocks is re-screened and the portfolio is rebalanced approximately on a monthly basis.

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

The sub-adviser’s investment process is designed to invest in companies in the information technology and health care sectors.

The investment team considers the information technology sector to include areas such as application software, communications equipment, data processing & outsourced services, electronic components, electronic equipment & instruments, and electronic manufacturing services.

Other areas included in the information technology sector are Internet services & infrastructure, IT consulting, semiconductor equipment, semiconductors, systems software, technology distributors and technology hardware, storage & peripherals.

The health care sector includes areas such as biotechnology, health care distributors, equipment, facilities, services, supplies, and technology, life sciences tools & services, managed health care, and pharmaceuticals.

Then the research team utilizes quantitative techniques to look for mispriced companies that are trading at discounts to their estimated intrinsic values.

The team calculates intrinsic value based on factors such as average earnings per share, future earnings growth estimates, beta, and bond yield.

In addition, the team employs a tactical, rotation-based process to identify industries and sectors that have the potential to outperform.

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

However, there is no minimum or maximum with respect to the amount the manager may invest in any particular sector.

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

The sub-adviser’s investment process is designed to invest in companies in the information technology and health care sectors.

The investment team considers the information technology sector to include areas such as application software, communications equipment, data processing & outsourced services, electronic components, electronic equipment & instruments, and electronic manufacturing services.

Other areas included in the information technology sector are Internet services & infrastructure, IT consulting, semiconductor equipment, semiconductors, systems software, technology distributors and technology hardware, storage & peripherals.

The health care sector includes areas such as biotechnology, health care distributors, equipment, facilities, services, supplies, and technology, life sciences tools & services, managed health care, and pharmaceuticals.

Then the research team utilizes quantitative techniques to look for mispriced companies that are trading at discounts to their estimated intrinsic values.

The team calculates intrinsic value based on factors such as average earnings per share, future earnings growth estimates, beta, and bond yield.

In addition, the team employs a tactical, rotation-based process to identify industries and sectors that have the potential to outperform.

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

However, there is no minimum or maximum with respect to the amount the manager may invest in any particular sector.

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

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The investment process is designed to highlight companies engaged in technology-related industries.

The investment team considers a company to be doing business in technology-related industries if at least 50% of its gross income or its net sales come from activities in technology-related industries, or at least 50% of its total assets are devoted to producing revenues in technology-related industries.

The process also considers companies involved in the design, manufacture, distribution, licensing, or provision of various applied technologies, hardware, software, semiconductors, telecommunications equipment and telecommunications/media distribution services, medical technology, biotechnology, as well as service-related companies in the information technology industry.

The strategy focuses on companies that demonstrate earnings or revenue growth potential.

Then the research process is driven by fundamental analysis of one stock at a time. The research team utilizes quantitative techniques and fundamental analysis to narrow the investable universe.

Next, the team reviews a company’s financial statements, and also has discussions with company management teams, suppliers, distributors, competitors and customers.

In addition, the team evaluates the industry in which the company operates, and the stage of its business cycle.

Finally, the team looks to invest in companies demonstrating superior or improving fundamentals with attractive valuation and moderate earnings estimates.

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

The fund has the flexibility to invest across all market capitalizations but may hold a significant amount of securities of mid-and large-capitalization issuers.

Additionally, the fund may invest up to 50% of its net assets in securities of foreign issuers, which may include securities of issuers located in emerging markets countries.

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to invest in securities of science and technology companies around the globe.

The investment team considers science and technology companies as companies whose products, processes or services are being, or are expected to be, significantly benefited by the use or commercial application of scientific or technological developments or discoveries.

The team believes such companies derive a competitive advantage by the application of scientific or technological developments or discoveries to grow their business or increase their competitive advantage.

Next, the research team emphasizes growth potential in selecting stocks; meaning it looks for companies with accelerated earnings growth.

Then the research process is driven by fundamental analysis of one stock at a time. The research team then reviews a company’s earnings potential, quality of management, valuation, financial statements, industry position/market size potential and macroeconomic conditions, as well as whether a company’s products and services have high barriers to entry.

Then the manager constructs a portfolio of stocks from a list of companies in the benchmark index favored by the research team and allocates capital based on its conviction level. The portfolio generally holds 35 to 60 stocks.

Many of the companies in which the manager invests have products or services in foreign markets. Therefore, the fund may have indirect exposure to various foreign markets through investments in these companies, even if the fund is not invested directly in such markets.

The fund may also invest in companies that utilize science and/or technology as an agent of change to significantly enhance their business opportunities.

The fund may invest without limitation in foreign securities, including securities of issuers within emerging markets.

The fund is non-diversified, meaning that it may invest a significant portion of its net assets in a limited number of issuers.
 

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

The investment process is designed to highlight companies that utilize the unique and ever-growing possibilities presented by the Internet.

Then the research team focuses on companies with durable competitive advantages having the ability to generate excellent returns on capital over the long term. The team looks to purchase these companies at reasonable prices.

In addition, the team utilizes a three-step process to identify potential investment opportunities.

The first step in the process involves narrowing the investable universe through scouring the Web, reading analyst reports, running quantitative screens, attending conferences, and speaking to executives.

In the second step, the team combines qualitative and quantitative techniques to evaluate an investment opportunity 

Next, the team focuses on companies that operate in large markets with significant barriers to entry, have an excellent competitive position with growing market share, and are operated by capable management teams with proven track records.

Also, the team emphasizes companies having proprietary technologies or unusually loyal customers, and positive near-term catalysts to unlock value.

Other aspects of the process include evaluation of a company’s cash flows, income statement and balance sheet items.

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

Finally, the third step of the process is monitoring the security on a regular basis.

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

The investment process is designed to highlight companies engaged in the Internet and Internet related activities and whose businesses are vastly improved through the distribution of content and reduction of costs with the use of the Internet.

Next, the research team focuses on companies that are estimated to trade below their fair values participating in the growth of the Internet.

Then the team assesses a company’s positioning and business model as well as its ability to grow and expand its activities via the Internet.

In addition, the team also assesses whether a company is able to achieve a competitive advantage in cost/profitability and brand image leveraging via use of the Internet.

The team also reviews a company’s balance sheets, corporate revenues, earnings and dividends.

Furthermore, the team looks at the amount of capital a company currently expends on research and development.

Generally, the team favors companies with excellent alignment of interest and high barriers to entry, such as growing information library, scalability and network/adoption.

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

The manager looks to invest in companies that provide new kinds of services or products made possible by development or improvement of Internet-related technologies within a variety of sectors.

The fund may also invest indirectly in bitcoins exclusively through a Delaware statutory trust, Grayscale Bitcoin Trust.

The fund may also invest in exchange-traded funds, and may invest up to 20% of its net assets in convertible and non-convertible debt securities rated below investment grade.

The fund may maintain a significant portion of its net assets in cash and securities during a temporary period of abnormal conditions.

Additionally, the fund may participate in securities lending arrangements with brokers, dealers, and financial institutions in order to increase the return on its portfolio.
 

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

The investment process is designed to highlight companies engaged in the Internet and Internet related activities and whose businesses are vastly improved through the distribution of content and reduction of costs with the use of the Internet.

Next, the research team focuses on companies that are estimated to trade below their fair values participating in the growth of the Internet.

Then the team assesses a company’s positioning and business model as well as its ability to grow and expand its activities via the Internet.

In addition, the team also assesses whether a company is able to achieve a competitive advantage in cost/profitability and brand image leveraging via use of the Internet.

The team also reviews a company’s balance sheets, corporate revenues, earnings and dividends.

Furthermore, the team looks at the amount of capital a company currently expends on research and development.

Generally, the team favors companies with excellent alignment of interest and high barriers to entry, such as growing information library, scalability and network/adoption.

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

The manager looks to invest in companies that provide new kinds of services or products made possible by development or improvement of Internet-related technologies within a variety of sectors.

The fund may also invest indirectly in bitcoins exclusively through a Delaware statutory trust, Grayscale Bitcoin Trust.

The fund may also invest in exchange-traded funds, and may invest up to 20% of its net assets in convertible and non-convertible debt securities rated below investment grade.

The fund may maintain a significant portion of its net assets in cash and securities during a temporary period of abnormal conditions.

Additionally, the fund may participate in securities lending arrangements with brokers, dealers, and financial institutions in order to increase the return on its portfolio.
 

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

The investment process is designed to highlight companies engaged in the Internet and Internet related activities and whose businesses are vastly improved through the distribution of content and reduction of costs with the use of the Internet.

Next, the research team focuses on companies that are estimated to trade below their fair values participating in the growth of the Internet.

Then the team assesses a company’s positioning and business model as well as its ability to grow and expand its activities via the Internet.

In addition, the team also assesses whether a company is able to achieve a competitive advantage in cost/profitability and brand image leveraging via use of the Internet.

The team also reviews a company’s balance sheets, corporate revenues, earnings and dividends.

Furthermore, the team looks at the amount of capital a company currently expends on research and development.

Generally, the team favors companies with excellent alignment of interest and high barriers to entry, such as growing information library, scalability and network/adoption.

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

The manager looks to invest in companies that provide new kinds of services or products made possible by development or improvement of Internet-related technologies within a variety of sectors.

The fund may also invest indirectly in bitcoins exclusively through a Delaware statutory trust, Grayscale Bitcoin Trust.

The fund may also invest in exchange-traded funds, and may invest up to 20% of its net assets in convertible and non-convertible debt securities rated below investment grade.

The fund may maintain a significant portion of its net assets in cash and securities during a temporary period of abnormal conditions.

Additionally, the fund may participate in securities lending arrangements with brokers, dealers, and financial institutions in order to increase the return on its portfolio.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The investment process is designed to highlight companies principally engaged in offering, using or developing products, processes, or services that will provide or will benefit significantly from technological advances and improvements.

The investment team considers issuers in such fields as computer systems and software, networking and telecommunications, internet, business services, and electronics.

Next, the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Then the research team focuses on companies demonstrating above average earnings growth potential.

The team also relies on fundamental analysis to look for companies that are estimated to trade below their fair values.

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

Additionally, the fund may invest its net assets in securities of foreign issuers.

The fund is non-diversified, which means that it may invest a significant percentage of its net assets in a single issuer or a small number of issuers.
 

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

The sub-adviser’s investment process is designed to highlight established companies in the technology and science sectors, including in the semiconductor, semiconductor equipment, hardware, software, information technology services, communications equipment, social media, biotechnology and interactive media sectors.

Next, the research team utilizes qualitative and quantitative techniques to identify companies exhibiting superior sales and earnings growth prospects trading at a reasonable valuation.

The team looks for potential investment opportunities specifically within the technology, biotechnology and other growth industries.

When looking at particular companies, the team evaluates the scope of business of a company and its competitive landscape, as well as its management team’s experience.

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

Additionally, the fund may also invest up to 25% of its net assets in U.S. dollar denominated stocks of foreign companies located in both developed and emerging markets.

The fund may also invest opportunistically in initial public offerings.

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

The sub-adviser’s investment process is designed to highlight established companies in the technology and science sectors, including in the semiconductor, semiconductor equipment, hardware, software, information technology services, communications equipment, social media, biotechnology and interactive media sectors.

Next, the research team utilizes qualitative and quantitative techniques to identify companies exhibiting superior sales and earnings growth prospects trading at a reasonable valuation.

The team looks for potential investment opportunities specifically within the technology, biotechnology and other growth industries.

When looking at particular companies, the team evaluates the scope of business of a company and its competitive landscape, as well as its management team’s experience.

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

Additionally, the fund may also invest up to 25% of its net assets in U.S. dollar denominated stocks of foreign companies located in both developed and emerging markets.

The fund may also invest opportunistically in initial public offerings.

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

The sub-adviser’s investment process is designed to highlight established companies in the technology and science sectors, including in the semiconductor, semiconductor equipment, hardware, software, information technology services, communications equipment, social media, biotechnology and interactive media sectors.

Next, the research team utilizes qualitative and quantitative techniques to identify companies exhibiting superior sales and earnings growth prospects trading at a reasonable valuation.

The team looks for potential investment opportunities specifically within the technology, biotechnology and other growth industries.

When looking at particular companies, the team evaluates the scope of business of a company and its competitive landscape, as well as its management team’s experience.

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

Additionally, the fund may also invest up to 25% of its net assets in U.S. dollar denominated stocks of foreign companies located in both developed and emerging markets.

The fund may also invest opportunistically in initial public offerings.

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

The sub-adviser’s investment process is designed to highlight established companies in the technology and science sectors, including in the semiconductor, semiconductor equipment, hardware, software, information technology services, communications equipment, social media, biotechnology and interactive media sectors.

Next, the research team utilizes qualitative and quantitative techniques to identify companies exhibiting superior sales and earnings growth prospects trading at a reasonable valuation.

The team looks for potential investment opportunities specifically within the technology, biotechnology and other growth industries.

When looking at particular companies, the team evaluates the scope of business of a company and its competitive landscape, as well as its management team’s experience.

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

Additionally, the fund may also invest up to 25% of its net assets in U.S. dollar denominated stocks of foreign companies located in both developed and emerging markets.

The fund may also invest opportunistically in initial public offerings.

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

The sub-adviser’s investment process is designed to highlight established companies in the technology and science sectors, including in the semiconductor, semiconductor equipment, hardware, software, information technology services, communications equipment, social media, biotechnology and interactive media sectors.

Next, the research team utilizes qualitative and quantitative techniques to identify companies exhibiting superior sales and earnings growth prospects trading at a reasonable valuation.

The team looks for potential investment opportunities specifically within the technology, biotechnology and other growth industries.

When looking at particular companies, the team evaluates the scope of business of a company and its competitive landscape, as well as its management team’s experience.

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

Additionally, the fund may also invest up to 25% of its net assets in U.S. dollar denominated stocks of foreign companies located in both developed and emerging markets.

The fund may also invest opportunistically in initial public offerings.

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in companies across any size in 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 looks to Invest in multi-industry technology, including health care, and exposure to companies that produce or deploy innovative technologies.

Next, the research team focuses on companies in the technology sector, such as companies in the software, hardware and semiconductor industries. 

The team also considers companies in other industries, such as aerospace and defense, health care equipment, and biotechnology.

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

The manager may invest more than 25% of its net assets in securities of companies in the technology sector.

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

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in companies across any size in 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 looks to Invest in multi-industry technology, including health care, and exposure to companies that produce or deploy innovative technologies.

Next, the research team focuses on companies in the technology sector, such as companies in the software, hardware and semiconductor industries. 

The team also considers companies in other industries, such as aerospace and defense, health care equipment, and biotechnology.

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

The manager may invest more than 25% of its net assets in securities of companies in the technology sector.

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

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in companies across any size in 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 looks to Invest in multi-industry technology, including health care, and exposure to companies that produce or deploy innovative technologies.

Next, the research team focuses on companies in the technology sector, such as companies in the software, hardware and semiconductor industries. 

The team also considers companies in other industries, such as aerospace and defense, health care equipment, and biotechnology.

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

The manager may invest more than 25% of its net assets in securities of companies in the technology sector.

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

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in companies across any size in 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 looks to Invest in multi-industry technology, including health care, and exposure to companies that produce or deploy innovative technologies.

Next, the research team focuses on companies in the technology sector, such as companies in the software, hardware and semiconductor industries. 

The team also considers companies in other industries, such as aerospace and defense, health care equipment, and biotechnology.

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

The manager may invest more than 25% of its net assets in securities of companies in the technology sector.

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

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

The investment process is designed to highlight companies which produce, design, or market technology products or services; rely extensively on technology in their product development or operations; or which benefit from technological advances and improvements.

The strategy seeks to invest at least 25% of its net assets in technology companies which develop, produce or distribute products or services related to computers, semi-conductors and electronics.

Next, the research team focuses on the most attractive areas within technology.

The team then narrows the investable universe based on company fundamentals and a long-term focus outlook.

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

The fund has the flexibility to invest in stocks of smaller capitalization companies as the manager generally does not base stock selections on a company’s size.

The fund may also invest in REITs, securities of foreign companies and American Depositary Receipts.

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

The investment process is designed to highlight companies that are involved in the electronics sector, including semiconductor manufacturers and distributors, and makers and vendors of other electronic components and devices.

The investment team considers electronics companies to include companies involved in the manufacture and development of semiconductors, connectors, printed circuit boards, equipment vendors to electronic component manufacturers, electronic component distributors, electronic instruments and electronic systems vendors, and also include companies involved in all aspects of the electronics business and in new technologies or specialty areas.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign electronics companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that are involved in the electronics sector, including semiconductor manufacturers and distributors, and makers and vendors of other electronic components and devices.

The investment team considers electronics companies to include companies involved in the manufacture and development of semiconductors, connectors, printed circuit boards, equipment vendors to electronic component manufacturers, electronic component distributors, electronic instruments and electronic systems vendors, and also include companies involved in all aspects of the electronics business and in new technologies or specialty areas.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign electronics companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that are involved in the electronics sector, including semiconductor manufacturers and distributors, and makers and vendors of other electronic components and devices.

The investment team considers electronics companies to include companies involved in the manufacture and development of semiconductors, connectors, printed circuit boards, equipment vendors to electronic component manufacturers, electronic component distributors, electronic instruments and electronic systems vendors, and also include companies involved in all aspects of the electronics business and in new technologies or specialty areas.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign electronics companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that are involved in the electronics sector, including semiconductor manufacturers and distributors, and makers and vendors of other electronic components and devices.

The investment team considers electronics companies to include companies involved in the manufacture and development of semiconductors, connectors, printed circuit boards, equipment vendors to electronic component manufacturers, electronic component distributors, electronic instruments and electronic systems vendors, and also include companies involved in all aspects of the electronics business and in new technologies or specialty areas.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign electronics companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that provide products or services designed for or related to the Internet.

The investment team considers Internet companies to be involved in all aspects of research, design development, manufacturing or distribution of products or services for use with the Internet or Internet related businesses.

Additionally, the team believes such companies may provide information or entertainment services over the Internet, sell or distribute goods and services over the Internet, provide infrastructure systems or otherwise provide hardware, software or support that impacts Internet commerce; or provide Internet access to consumers and businesses.

Internet companies also may include companies that provide Intranet and Extranet services.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign Internet companies and U.S. government securities.

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

The investment process is designed to highlight companies that provide products or services designed for or related to the Internet.

The investment team considers Internet companies to be involved in all aspects of research, design development, manufacturing or distribution of products or services for use with the Internet or Internet related businesses.

Additionally, the team believes such companies may provide information or entertainment services over the Internet, sell or distribute goods and services over the Internet, provide infrastructure systems or otherwise provide hardware, software or support that impacts Internet commerce; or provide Internet access to consumers and businesses.

Internet companies also may include companies that provide Intranet and Extranet services.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign Internet companies and U.S. government securities.

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

The investment process is designed to highlight companies that provide products or services designed for or related to the Internet.

The investment team considers Internet companies to be involved in all aspects of research, design development, manufacturing or distribution of products or services for use with the Internet or Internet related businesses.

Additionally, the team believes such companies may provide information or entertainment services over the Internet, sell or distribute goods and services over the Internet, provide infrastructure systems or otherwise provide hardware, software or support that impacts Internet commerce; or provide Internet access to consumers and businesses.

Internet companies also may include companies that provide Intranet and Extranet services.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign Internet companies and U.S. government securities.

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

The investment process is designed to highlight companies that provide products or services designed for or related to the Internet.

The investment team considers Internet companies to be involved in all aspects of research, design development, manufacturing or distribution of products or services for use with the Internet or Internet related businesses.

Additionally, the team believes such companies may provide information or entertainment services over the Internet, sell or distribute goods and services over the Internet, provide infrastructure systems or otherwise provide hardware, software or support that impacts Internet commerce; or provide Internet access to consumers and businesses.

Internet companies also may include companies that provide Intranet and Extranet services.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign Internet companies and U.S. government securities.

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

The investment process is designed to highlight companies that are involved in the technology sector, including computer software and service companies, semiconductor manufacturers, networking and telecommunications equipment manufacturers, PC hardware and peripherals companies.

The investment team considers technology companies are companies that have, or will develop, products, processes, or services that will provide technological advances and improvements

According to the team, these companies may include companies that develop, produce or distribute products or services in the computer, semiconductor, electronics and communications sectors.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign technology companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that are involved in the technology sector, including computer software and service companies, semiconductor manufacturers, networking and telecommunications equipment manufacturers, PC hardware and peripherals companies.

The investment team considers technology companies are companies that have, or will develop, products, processes, or services that will provide technological advances and improvements

According to the team, these companies may include companies that develop, produce or distribute products or services in the computer, semiconductor, electronics and communications sectors.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign technology companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that are involved in the technology sector, including computer software and service companies, semiconductor manufacturers, networking and telecommunications equipment manufacturers, PC hardware and peripherals companies.

The investment team considers technology companies are companies that have, or will develop, products, processes, or services that will provide technological advances and improvements

According to the team, these companies may include companies that develop, produce or distribute products or services in the computer, semiconductor, electronics and communications sectors.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign technology companies and U.S. government securities.
 

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

The investment process is designed to highlight companies that are involved in the technology sector, including computer software and service companies, semiconductor manufacturers, networking and telecommunications equipment manufacturers, PC hardware and peripherals companies.

The investment team considers technology companies are companies that have, or will develop, products, processes, or services that will provide technological advances and improvements

According to the team, these companies may include companies that develop, produce or distribute products or services in the computer, semiconductor, electronics and communications sectors.

Then the research team combines a proprietary quantitative and qualitative methodology to identify investment opportunities.

The team utilizes screens based on price, liquidity, and tradability to evaluate potential investments.

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

The fund also may purchase American Depositary Receipts to gain exposure to foreign technology companies and U.S. government securities.
 

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

The investment process is designed to invest in securities of technology and communications companies.

The investment team defines a technology company as a company that derives at least 50% of its revenues or earnings from technology activities or at least 50% of the company’s assets were devoted to such activities, based upon the company’s most recent fiscal year.

Technology companies may include companies that are engaged in the research, design, development or manufacturing of technology products.

Other examples of these companies include those in the Internet, medical, pharmaceutical, manufacturing, computer software and hardware industries.

Also, the investment team defines a communications company as a company that derives at least 50% of the company’s revenues or earnings from communications activities or at least 50% of the company’s assets were devoted to such activities, based upon the company’s most recent fiscal year.

Communications activities may include regular telephone service; communications equipment and services, electronic components and equipment, broadcasting; computer software and hardware, semiconductors, mobile communications and cellular radio/paging.

Other examples of communications activities include electronic mail and other electronic data transmission services, networking and linkage of word and data processing systems, publishing and information systems, video text and teletext, emerging technologies combining telephone, television and/or computer systems, and Internet and network equipment and services.

Next, the research team employs a top-down and bottom-up approach to identify investment opportunities.

As part of its research process, the team reviews the overall outlook for the economy to identify specific industries that would benefit from economic trends and the investment environment.

Then the team relies on fundamental analysis, growth potential, earnings, valuation, competitive advantages and the opportunity of each issuer to select individual securities.

Finally, the team selects high-quality companies at attractive prices that are trading at a discount to their estimated intrinsic value.

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

The fund may invest up to 25% of its net assets in foreign companies.

When market or financial conditions warrant, the fund may also make temporary investments in investment grade debt securities.
 

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

The investment process is designed to invest in securities of technology and communications companies.

The investment team defines a technology company as a company that derives at least 50% of its revenues or earnings from technology activities or at least 50% of the company’s assets were devoted to such activities, based upon the company’s most recent fiscal year.

Technology companies may include companies that are engaged in the research, design, development or manufacturing of technology products.

Other examples of these companies include those in the Internet, medical, pharmaceutical, manufacturing, computer software and hardware industries.

Also, the investment team defines a communications company as a company that derives at least 50% of the company’s revenues or earnings from communications activities or at least 50% of the company’s assets were devoted to such activities, based upon the company’s most recent fiscal year.

Communications activities may include regular telephone service; communications equipment and services, electronic components and equipment, broadcasting; computer software and hardware, semiconductors, mobile communications and cellular radio/paging.

Other examples of communications activities include electronic mail and other electronic data transmission services, networking and linkage of word and data processing systems, publishing and information systems, video text and teletext, emerging technologies combining telephone, television and/or computer systems, and Internet and network equipment and services.

Next, the research team employs a top-down and bottom-up approach to identify investment opportunities.

As part of its research process, the team reviews the overall outlook for the economy to identify specific industries that would benefit from economic trends and the investment environment.

Then the team relies on fundamental analysis, growth potential, earnings, valuation, competitive advantages and the opportunity of each issuer to select individual securities.

Finally, the team selects high-quality companies at attractive prices that are trading at a discount to their estimated intrinsic value.

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

The fund may invest up to 25% of its net assets in foreign companies.

When market or financial conditions warrant, the fund may also make temporary investments in investment grade debt securities.
 

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

The investment process is designed to invest in securities of technology and communications companies.

The investment team defines a technology company as a company that derives at least 50% of its revenues or earnings from technology activities or at least 50% of the company’s assets were devoted to such activities, based upon the company’s most recent fiscal year.

Technology companies may include companies that are engaged in the research, design, development or manufacturing of technology products.

Other examples of these companies include those in the Internet, medical, pharmaceutical, manufacturing, computer software and hardware industries.

Also, the investment team defines a communications company as a company that derives at least 50% of the company’s revenues or earnings from communications activities or at least 50% of the company’s assets were devoted to such activities, based upon the company’s most recent fiscal year.

Communications activities may include regular telephone service; communications equipment and services, electronic components and equipment, broadcasting; computer software and hardware, semiconductors, mobile communications and cellular radio/paging.

Other examples of communications activities include electronic mail and other electronic data transmission services, networking and linkage of word and data processing systems, publishing and information systems, video text and teletext, emerging technologies combining telephone, television and/or computer systems, and Internet and network equipment and services.

Next, the research team employs a top-down and bottom-up approach to identify investment opportunities.

As part of its research process, the team reviews the overall outlook for the economy to identify specific industries that would benefit from economic trends and the investment environment.

Then the team relies on fundamental analysis, growth potential, earnings, valuation, competitive advantages and the opportunity of each issuer to select individual securities.

Finally, the team selects high-quality companies at attractive prices that are trading at a discount to their estimated intrinsic value.

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

The fund may invest up to 25% of its net assets in foreign companies.

When market or financial conditions warrant, the fund may also make temporary investments in investment grade debt securities.
 

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

The investment process is designed to highlight companies that are expected to benefit from the development and use of science and/or technology.

The investment team focuses on companies that operate in industries such as information technology, telecommunication equipment and services, health care, business services and technology solutions, media, internet commerce and advertising, alternative energy, aerospace and defense, and materials and chemicals.

Next, the research team relies on fundamental research to evaluate companies’ business prospects, valuations of their stocks, and share price appreciation potential.

The team may consider small companies offering new technologies, including privately held companies and companies that only recently began to publicly trade, to large firms with established track records.

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

The manager may also invest in companies that will benefit from advances in technology even if they are not direct technology providers.

Additionally, the fund may purchase a security if it believes there could be an increase in value as a result of an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a management change.

The fund may invest in foreign stocks, including issuers in emerging markets.

The fund is non-diversified, meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a diversified fund.

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

The investment process is designed to highlight companies that are expected to benefit from the development and use of science and/or technology.

The investment team focuses on companies that operate in industries such as information technology, telecommunication equipment and services, health care, business services and technology solutions, media, internet commerce and advertising, alternative energy, aerospace and defense, and materials and chemicals.

Next, the research team relies on fundamental research to evaluate companies’ business prospects, valuations of their stocks, and share price appreciation potential.

The team may consider small companies offering new technologies, including privately held companies and companies that only recently began to publicly trade, to large firms with established track records.

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

The manager may also invest in companies that will benefit from advances in technology even if they are not direct technology providers.

Additionally, the fund may purchase a security if it believes there could be an increase in value as a result of an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a management change.

The fund may invest in foreign stocks, including issuers in emerging markets.

The fund is non-diversified, meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a diversified fund.

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

The investment process is designed to highlight companies that are expected to benefit from the development and use of science and/or technology.

The investment team focuses on companies that operate in industries such as information technology, telecommunication equipment and services, health care, business services and technology solutions, media, internet commerce and advertising, alternative energy, aerospace and defense, and materials and chemicals.

Next, the research team relies on fundamental research to evaluate companies’ business prospects, valuations of their stocks, and share price appreciation potential.

The team may consider small companies offering new technologies, including privately held companies and companies that only recently began to publicly trade, to large firms with established track records.

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

The manager may also invest in companies that will benefit from advances in technology even if they are not direct technology providers.

Additionally, the fund may purchase a security if it believes there could be an increase in value as a result of an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a management change.

The fund may invest in foreign stocks, including issuers in emerging markets.

The fund is non-diversified, meaning it may invest a greater portion of its assets in fewer issuers than is permissible for a diversified fund.

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

The investment process is designed to highlight companies that are benefitting from or have the potential to benefit from advances in the use of artificial intelligence.

According to the team, artificial intelligence refers to the development or use by a business of computer systems that perform tasks previously requiring human intelligence such as decision-making or audio or visual identification or perception.

Then the research team focuses on growth companies that have attributes such as an expected growth cycle, accelerating earnings or cash flow, and general growth of a business sector.

The research process is driven by fundamental analysis of one stock at a time and also reviews a company’s financial characteristics.

Next, the team emphasizes companies that have superior, disruptive and enduring business models.

The team employs a highly focused approach to achieve superior long-term returns over a full market cycle.

In addition, the research team utilizes qualitative and quantitative screening as part of its research process.

The qualitative screening focuses on companies that have the potential to grow or otherwise materially benefit partly as a result of their development or use of artificial intelligence in analysis, forecasting, efficiency, automation, consistency and scale.

Also, the research team integrates environmental, social and governance factors as part of its process. The team considers companies that prudently manage environmental sustainability and social responsibilities with good governance and solid financial resources.

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

The portfolio typically holds 25 to 60 companies.

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

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

The investment process is designed to highlight companies that are benefitting from or have the potential to benefit from advances in the use of artificial intelligence.

According to the team, artificial intelligence refers to the development or use by a business of computer systems that perform tasks previously requiring human intelligence such as decision-making or audio or visual identification or perception.

Then the research team focuses on growth companies that have attributes such as an expected growth cycle, accelerating earnings or cash flow, and general growth of a business sector.

The research process is driven by fundamental analysis of one stock at a time and also reviews a company’s financial characteristics.

Next, the team emphasizes companies that have superior, disruptive and enduring business models.

The team employs a highly focused approach to achieve superior long-term returns over a full market cycle.

In addition, the research team utilizes qualitative and quantitative screening as part of its research process.

The qualitative screening focuses on companies that have the potential to grow or otherwise materially benefit partly as a result of their development or use of artificial intelligence in analysis, forecasting, efficiency, automation, consistency and scale.

Also, the research team integrates environmental, social and governance factors as part of its process. The team considers companies that prudently manage environmental sustainability and social responsibilities with good governance and solid financial resources.

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

The portfolio typically holds 25 to 60 companies.

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

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

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

The process is designed to highlight companies expected to benefit from the development and use of scientific and technological advances and improvements.

The fund employs a multi-manager investing approach to highlight companies exhibiting growth potential.

Next, the underlying managers focus on companies exhibiting high levels of growth in the information technology and healthcare sectors.

Then the manager 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 50% of its net assets in securities of foreign issuers, including securities issued in emerging markets.
 

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

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

The process is designed to highlight companies expected to benefit from the development and use of scientific and technological advances and improvements.

The fund employs a multi-manager investing approach to highlight companies exhibiting growth potential.

Next, the underlying managers focus on companies exhibiting high levels of growth in the information technology and healthcare sectors.

Then the manager 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 50% of its net assets in securities of foreign issuers, including securities issued in emerging markets.
 

The fund seeks to track the total return performance of a benchmark index before fees and expenses by investing in companies across any size in the United States.

The investment process is designed to highlight companies that invest in securities within the information technology sector.

Then the research team employs an indexing investment approach to track the performance of the MSCI US Investable Market Index (IMI)/Information Technology 25/50 Index.

Next, the team follows the Global Industry Classification Standard information technology sector classification which includes companies that offer software and information technology services as well as manufacturers and distributors of technology hardware and equipment such as communications equipment, cellular phones, computers and peripherals, electronic equipment and related instruments, and semiconductors.

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

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

The fund seeks capital appreciation by investing in innovative companies engaged in the development or application of science and technology.

The fundamental research driven investment process identifies companies with organic earnings and revenue growth, expanding margins, and attractive return on capital.

The investment team reviews business models, industry dynamics and growth outlook for the companies’ products and services in the long-term. The team also reviews the commercial potential of scientific or technological developments or discoveries.

The fund seeks capital appreciation by investing in innovative companies engaged in the development or application of science and technology.

The fundamental research driven investment process identifies companies with organic earnings and revenue growth, expanding margins, and attractive return on capital.

The investment team reviews business models, industry dynamics and growth outlook for the companies’ products and services in the long-term. The team also reviews the commercial potential of scientific or technological developments or discoveries.

The fund seeks capital appreciation by investing in innovative companies engaged in the development or application of science and technology.

The fundamental research driven investment process identifies companies with organic earnings and revenue growth, expanding margins, and attractive return on capital.

The investment team reviews business models, industry dynamics and growth outlook for the companies’ products and services in the long-term. The team also reviews the commercial potential of scientific or technological developments or discoveries.

The fund seeks capital appreciation by investing in innovative companies engaged in the development or application of science and technology.

The fundamental research driven investment process identifies companies with organic earnings and revenue growth, expanding margins, and attractive return on capital.

The investment team reviews business models, industry dynamics and growth outlook for the companies’ products and services in the long-term. The team also reviews the commercial potential of scientific or technological developments or discoveries.

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

The sub-adviser’s investment process is designed to invest in securities of global technology companies.

The investment team defines technology companies as those with revenues primarily generated by technology products and services, such as computer, software, communications equipment and services, semi-conductor, health care, biotechnology, defense and aerospace, energy equipment and services, nanotechnology, electric manufacturing services and others.

Next, the research team evaluates the fundamental value and growth prospects of individual companies.

The team then focuses on technology companies that are estimated to have above-average rates of growth and superior capital appreciation potential.

In addition, the team develops forecasts of economic growth, inflation, and interest rates to identify regions and individual countries that are likely to offer the best investment opportunities.

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

The fund has the flexibility to invest up to 50% of its net assets in securities of foreign issuers, including up to 15% of its net assets in securities of emerging markets issuers.

Additionally, the fund is also considered to be non-diversified.

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

The sub-adviser’s investment process is designed to invest in securities of global technology companies.

The investment team defines technology companies as those with revenues primarily generated by technology products and services, such as computer, software, communications equipment and services, semi-conductor, health care, biotechnology, defense and aerospace, energy equipment and services, nanotechnology, electric manufacturing services and others.

Next, the research team evaluates the fundamental value and growth prospects of individual companies.

The team then focuses on technology companies that are estimated to have above-average rates of growth and superior capital appreciation potential.

In addition, the team develops forecasts of economic growth, inflation, and interest rates to identify regions and individual countries that are likely to offer the best investment opportunities.

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

The fund has the flexibility to invest up to 50% of its net assets in securities of foreign issuers, including up to 15% of its net assets in securities of emerging markets issuers.

Additionally, the fund is also considered to be non-diversified.

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

The sub-adviser’s investment process is designed to invest in securities of global technology companies.

The investment team defines technology companies as those with revenues primarily generated by technology products and services, such as computer, software, communications equipment and services, semi-conductor, health care, biotechnology, defense and aerospace, energy equipment and services, nanotechnology, electric manufacturing services and others.

Next, the research team evaluates the fundamental value and growth prospects of individual companies.

The team then focuses on technology companies that are estimated to have above-average rates of growth and superior capital appreciation potential.

In addition, the team develops forecasts of economic growth, inflation, and interest rates to identify regions and individual countries that are likely to offer the best investment opportunities.

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

The fund has the flexibility to invest up to 50% of its net assets in securities of foreign issuers, including up to 15% of its net assets in securities of emerging markets issuers.

Additionally, the fund is also considered to be non-diversified.

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

The sub-adviser’s investment process is designed to invest in securities of global technology companies.

The investment team defines technology companies as those with revenues primarily generated by technology products and services, such as computer, software, communications equipment and services, semi-conductor, health care, biotechnology, defense and aerospace, energy equipment and services, nanotechnology, electric manufacturing services and others.

Next, the research team evaluates the fundamental value and growth prospects of individual companies.

The team then focuses on technology companies that are estimated to have above-average rates of growth and superior capital appreciation potential.

In addition, the team develops forecasts of economic growth, inflation, and interest rates to identify regions and individual countries that are likely to offer the best investment opportunities.

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

The fund has the flexibility to invest up to 50% of its net assets in securities of foreign issuers, including up to 15% of its net assets in securities of emerging markets issuers.

Additionally, the fund is also considered to be non-diversified.