Fund Description

The fund invests substantially all of its assets in an underlying series that is designed to purchase securities of large non-U.S. companies in developed markets that the advisor determines to be lower relative price stocks, emphasizing long-term drivers of expected returns while balancing risk through broad diversification across companies, sectors, and countries. The advisor may overweight smaller companies, lower relative price stocks, and/or higher profitability stocks within the large-cap value segment, adjust exposure or exclude companies based on factors such as price momentum and short-run reversals, and use flexible trading to manage turnover and costs. It may use depositary receipts, futures and options on futures, foreign currency transactions (including forwards), and securities lending.