Fund Description

The fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities of large market-cap companies with value characteristics, defining large-cap by the market-cap range of the Russell 1000 Index and value by inclusion in the Russell 1000 Value Index. The sub-advisor uses a proprietary quantitative, model-driven approach, supplemented by a fundamental-research overlay that may exclude model-recommended stocks. Holdings may include stocks that later fall outside large-cap value. It holds a diversified portfolio of exchange-listed common stocks, considers ESG analysis as one input, may concentrate in sectors such as Financials, may use a government money market fund for cash, trade equity index futures, and lend securities.