Fund Description

The fund is a feeder portfolio that invests substantially all of its assets in a series designed, using a market capitalization weighted approach, to purchase a broad and diverse group of readily marketable securities of small companies associated with Japan. The advisor uses an integrated approach combining research, portfolio design, portfolio management, and trading, emphasizing long-term drivers of expected returns while balancing risk through broad diversification. The series may emphasize smaller-capitalization, lower relative price, and/or higher profitability stocks, and may adjust, reduce, or exclude holdings based on shorter-term considerations. It seeks to reduce trading costs using a flexible trading approach that looks for opportunities to participate in available market liquidity, while managing turnover and explicit transaction costs. The series may use depositary receipts, futures and options on futures, foreign currency transactions, and securities lending.