The fund seeks capital appreciation in the long term by investing in large-size 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 focuses on securities of foreign issuers, and may also invest through, but not limited to, American Depository Receipts and other depositary receipts.

In determining whether an issuer is foreign, the team considers where the issuer is headquartered or its principal operations are located, or where the issuer’s revenues are derived, where the principal trading market is located and the country in which the issuer is legally organized.

The team favors growing businesses with solid fundamentals, attractive profitability, and proven management teams.

Also, the team holds securities with long-term investment horizons.

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 generally holds between 25 and 50 securities.

The fund intends to invest in securities of issuers from at least three different countries outside of the United States, including issuers in emerging market countries.

From time to time, the fund may invest more than 25% of its net assets in issuers connected to China, and in issuers in other emerging market countries.

Additionally, the fund may, from time to time, have significant exposure to one or more issuers, geographic regions or sectors of the global economy.

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

The fund seeks capital appreciation in the long term by investing in large-size 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 focuses on securities of foreign issuers, and may also invest through, but not limited to, American Depository Receipts and other depositary receipts.

In determining whether an issuer is foreign, the team considers where the issuer is headquartered or its principal operations are located, More