The fund seeks to outperform the benchmark index 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 have potential for superior earnings growth.

The research process is driven by fundamental a

The fund seeks to outperform the benchmark index 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 have potential for superior earnings growth.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team seeks to capitalize on inefficiencies in small-cap asset classes.

In addition, the team prefers companies having attractive valuations and excellent earnings or revenue growth potential.

As part of its process, the team relies on fundamental research and meetings with company managements.

The team emphasizes companies that have a superior competitive position, and quality management team.

Additionally, the team favors companies that have demonstrated growth in sales and earnings, balance sheet flexibility and strength, and strong earnings growth prospects.

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

Also, the fund may invest in other equity-related securities, including structured notes, and convertible securities like bonds, corporate notes and preferred stocks.

The fund may participate in the initial public offering market.