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 are estimated to trade below their fair values and offer good prospects for capital appreciation.

The team employs a value-oriented investme

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 are estimated to trade below their fair values and offer good prospects for capital appreciation.

The team employs a value-oriented investment approach to identify high-quality companies exhibiting consistent above-average rates of profitability.

In addition, the team favors companies demonstrating characteristics such as durable competitive advantages within a market niche; superior profitability and free cash flows.

Also, the team prefers companies with excellent market share positions and trends; quality of and share ownership by management; and conservative financial structures relative to industry average.

Then the manager 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 15% of its net assets in foreign securities (including up to 5% in emerging-market securities).

Also, the fund may invest significantly in financial services companies.

However, the fund invests 10% or less (usually less) of its net assets in cash and cash equivalents.

The fund may invest in initial public offerings, and may also purchase real estate investment trusts or other real estate related equity securities, U.S. dollar-denominated foreign securities, and certain exchange-traded funds.

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