The fund seeks income and capital appreciation 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.

Next, the research team invests in securities i issued by companies that are engaged in the infrastructure business and other investments with similar economic characteristics.

The team considers companies to be engaged in the infrastructure business if at least 50% or more of their assets, income, sales or profits are committed to, derived from or related to, the construction, renovation, ownership, development, financing, management or operation of infrastructure assets or the provision of raw materials necessary for the construction and maintenance of infrastructure assets.

Infrastructure assets include physical structures, networks, developments and projects that communities and economies require to function and grow, including transportation-related infrastructure, energy-related infrastructure, water and sewage infrastructure, communications infrastructure, and social services-related infrastructure and other resources and services necessary for the construction and maintenance of infrastructure assets.

In selecting securities for the portfolio, the research team focuses on companies with sustainable cash flows over the .long term.

The team also focuses on companies that are attractively valued relative to other companies in the same industry or market.

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 portfolio holds approximately 30 to 60 holdings.

The fund may invest a significant portion of its net assets in foreign securities.

Also, the fund will invest in assets that are tied economically to a minimum of three countries (which may include the United States).

Additionally, the fund will invest a substantial portion (at least 40%, unless market conditions are deemed to be unfavorable, in which case at least 30%) of its assets in investments tied economically to countries outside of the United States.

The fund may invest up to 20% of its  net assets in securities of companies located in countries with developing or emerging markets.
 

The fund seeks income and capital appreciation 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.

Next, the research team invests in securities i issued by companies that are engaged in the infrastructure business and other investments with similar economic characteristics.

The team considers companies to be engaged in the infrastructure business if at least 50% or more of their assets, income, sales More