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

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

The process utilizes both top-down macroeconomic analysis and bottom-up stock selection.

Next, the research team invests in foreign securities, including American Depositary Receipts and similar investments, which are typically denominated in non-U.S. currencies, and may also invest in U.S. securities.

The team invests a significant portion of the fund’s net assets in companies related to precious metals.

Also, the team defines precious metals companies as those that are engaged in, or which receive at least 50% of their revenues from the exploration, development, mining, processing, or dealing in gold or other precious metals and minerals, including, but not limited to, silver, platinum, and diamonds.

In the top-down macroeconomic analysis, the team focuses on  geopolitical risks, the relative strength of the U.S. dollar, jewelry demand, inflation expectations, the seasonality of gold, investment demand and relative valuation levels.

As part of the bottom-up analysis, the team looks for higher quality precious metals companies that are positioned to improve their relative value over time.

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

The fund invests up to 40% of its net assets in emerging market equity securities.

Also, the fund may invest up to 25% of its net assets in debt securities linked to precious metals and common or preferred stocks of subsidiaries of the fund that invest directly or indirectly in precious metals and minerals.

In addition, the fund may invest in equity securities of a wholly owned subsidiary of the fund set up in the Cayman Islands that may invest directly in precious metals or minerals.

While the fund has the flexibility to invest in precious metals companies domiciled in any jurisdiction in the world, the fund may concentrate its investments in a limited number of countries.

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 outside the United States.

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

The process utilizes both top-down macroeconomic analysis and bottom-up stock selection.

Next, the research team invests in foreign securities, including American Depositary Receipts and similar investments, which are typically denominated in non-U.S. currencies, and may also invest in U.S. securities.

The team invests a significant portion More