Fund Description

The fund invests at least 80% of net assets, plus any borrowings for investment purposes, in common stocks and other equities of small companies worldwide, generally focusing on developed markets including the U.S. For this 80% policy, small companies are those in the S&P Developed SmallCap Index, and derivatives providing exposure to these investments or related market risk factors are included. Portfolio management uses proprietary quantitative models that are research based, emphasizing factors such as valuation, momentum, profitability, and earnings and sales growth, with industry-specific weights, and strives to maximize returns while maintaining a risk profile similar to the fund's benchmark index. Managers may make infrequent discretionary changes using additional fundamental and ESG analysis, may use derivatives for hedging, risk management, gain enhancement, or as substitutes, and may lend securities up to one-third of total assets.