Fund Description

The fund invests at least 80% of its net assets (plus borrowings, if any) in equity securities of foreign issuers, generally common stocks of companies in the countries and industries represented in the MSCI EAFE Index, and may invest in small-cap companies. It uses a proprietary quantitative multi-factor model to select and rank securities while controlling risk relative to its benchmark, using historical measures such as valuation, quality, and investor sentiment and typically a macroeconomic element. Holdings are drawn primarily from benchmark constituents, with remaining securities from the MSCI EAFE Investable Market Index. It may invest in other investment companies (including ETFs), hold cash, lend securities, trade actively, use derivatives, and may enter into foreign currency futures, forward contracts, and options to hedge currency risk. Changes to the 80% policy require at least 60 days' notice.