Strategy. Under normal circumstances, the Fund will invest primarily in equity and equity-related securities of small and medium capitalization companies located around the world. For purposes of this policy, the Fund considers small and medium capitalization companies to be those companies that have market capitalizations at time of purchase that are less than the largest market capitalization included in the MSCI All Country World Small Mid Cap ND Index (USD) (the Index) during the most recent 3-year period. Under normal market conditions, the subadviser expects that the weighted average market capitalization of the Fund will not exceed $50 billion. The approximate range of market capitalizations from the smallest to the largest constituent included in the Index at each month end during … Show more… Under normal circumstances, the Fund will invest primarily in equity and equity-related securities of small and medium capitalization companies located around the world. For purposes of this policy, the Fund considers small and medium capitalization companies to be those companies that have market capitalizations at time of purchase that are less than the largest market capitalization included in the MSCI All Country World Small Mid Cap ND Index (USD) (the Index) during the most recent 3-year period. Under normal market conditions, the subadviser expects that the weighted average market capitalization of the Fund will not exceed $50 billion. The approximate range of market capitalizations from the smallest to the largest constituent included in the Index at each month end during the 3-year period ending on December 31, 2024, was $9 million to $113 billion. As of December 31, 2024, the Index included companies with approximate market capitalizations ranging from $64 million to $109 billion. The Fund is not sponsored by or affiliated with MSCI. Equity and equity-related securities include, but are not limited to, common stocks, securities convertible or exchangeable for common stock or the cash value of common stock, preferred stocks, warrants and rights that can be exercised to obtain stock, investments in various types of business ventures including partnerships and business development companies, investments in other mutual funds, exchange-traded funds (ETFs), securities of real estate investment trusts (REITs) and income and royalty trusts, structured securities including participation notes (P-Notes), structured notes (S-Notes) and low exercise price warrants (LEPWs) or other similar securities and American Depositary Receipts (ADRs) and other similar receipts or shares, in both listed and unlisted form. The Fund may also invest in A-Shares using the Hong Kong-Shanghai Stock Connect program and other similar programs. Under normal circumstances, the Fund expects to invest in at least three different countries and invest at least 40% of its investable assets in foreign securities. The Fund may invest up to 50% of its investable assets in the securities of issuers located in or otherwise economically tied to emerging markets countries (identified by the subadviser as countries classified by MSCI as emerging and frontier markets or otherwise deemed by the subadviser to be emerging markets). The Funds investments in foreign securities may be lower if conditions are not favorable, but such investments may not be lower than 30% of the Funds investable assets. It is possible that conditions that are not favorable (and foreign securities exposure as low as 30%) may occur periodically and continue for extended periods of time. The Funds investments may be U.S. or non-U.S. dollar denominated. The Fund may from time to time be geographically concentrated and may invest a substantial amount of its assets in securities of issuers located in a single country or a small number of countries. The Funds subadviser employs a growth investment style. As part of this growth investment style, the Fund seeks to invest in companies in the early stages of accelerating growth, with sustainable competitive advantages, long-term structural growth drivers, attractive cash flow returns on invested capital, and management teams focused on creating long-term value for shareholders. The subadviser may consider selling or reducing a portfolio holding due to an unfavorable change in that portfolio holdings fundamentals, such as a weakening financial or competitive position, change in company strategy or business model, or a significant change in management or governance issues. The emergence of what is believed to be a more attractive portfolio candidate may also lead to eliminating or reducing the weight of a position in the Fund. A stock's price decline does not necessarily mean that the subadviser will sell the stock at that time. The Fund is non-diversified for purposes of the Investment Company Act of 1940 (the 1940 Act) which means that it can invest a greater percentage of its assets in fewer issuers than a diversified fund. At times, the Fund may have a significant portion of its assets invested in the same economic sector. Show less