Fund Description

The fund invests at least 80% of its net assets (plus borrowings, if any) in equity securities of foreign issuers in the countries and industries represented in the MSCI EAFE Index, and may invest in small-cap companies. Using a proprietary quantitative multi-factor model, the adviser ranks securities based on historical economic and financial factors and other quantitative metrics, with a macroeconomic component, while controlling risk versus the benchmark. The portfolio is drawn primarily from benchmark constituents, with remaining holdings from the MSCI EAFE Investable Market Index universe. The fund expects to invest primarily in common stocks. It may invest in ETFs and other investment companies, hold cash, lend securities, trade actively, and use derivatives for market exposure.