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

Next, the research team invests in companies that exhibit above-average potential for long-term growth of capital.

The team favors companies that are well positioned to benefit from the eme

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

Next, the research team invests in companies that exhibit above-average potential for long-term growth of capital.

The team favors companies that are well positioned to benefit from the emergence of long-term catalysts for growth.

In addition, the team assesses a company’s margin structure, growth rate, debt level and other factors that influence relative stock valuations.

The team also evaluates the liquidity of each security, sustainability of profit margins, barriers to entry, company management and free cash flow.

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

The fund may invest up to 10% of its net assets in foreign companies, including those located in developing countries or emerging markets, American Depositary Receipts or Global Depositary Receipts.

Additionally, the fund may invest a significant portion of its net assets in the securities of companies in the health care and information technology sectors.

The fund also may hold securities of mid-capitalization companies.

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