The fund seeks capital appreciation and income by investing in companies 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.

Next, the research team invests in securities of real estate companies, principally real estate investment trusts, and other real estate securities globally.

The team employs a value-oriented approach that focuses on real estate fundamentals and assessments of management teams.

In addition, the team focuses on valuation relative to a company's underlying real estate assets as well as a company's on-going concern valuation.

The team also conducts detailed company research that includes regular management visits, property tours and financial analysis.

Also, the team analyzes the quality of real estate asset cash flows and sustainability and growth of company dividends. 

The team also evaluates the company's strategy, management's track record, incentives and ability to create long term shareholder value.

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 in at least three different countries and at least 40% of its net assets in foreign securities, including emerging markets.

There is no limit on the amount of fund assets that may be invested in the securities of foreign real estate companies. 

The fund invests at least 25% of its net assets in real estate securities.

The fund seeks capital appreciation and income by investing in companies 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.

Next, the research team invests in securities of real estate companies, principally real estate investment trusts, and other real estate securities globally.

The team employs a value-oriented approach that focuses on real estate fundamentals and assessments of management teams.

In addition, the team focuses on valuation relative to a company's underlying More