Strategy. The funds sub-adviser, J.P. Morgan Investment Management Inc. (the sub-adviser), seeks to achieve the funds objective by investing, under normal circumstances, at least 80% of the funds net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities of mid cap companies. Mid cap companies are companies with market capitalizations equal to those within the universe of the Russell Midcap Value Index 1 and/or between $1 billion and $20 billion at the time of purchase. As of the current reconstitution of the Russell Midcap Value Index on June 30, 2022, the market capitalizations of the companies in the index ranged from $6 billion to $47 billion. The fund will normally only purchase securities that are traded … Show more… The funds sub-adviser, J.P. Morgan Investment Management Inc. (the sub-adviser), seeks to achieve the funds objective by investing, under normal circumstances, at least 80% of the funds net assets (plus the amount of borrowings, if any, for investment purposes) in equity securities of mid cap companies. Mid cap companies are companies with market capitalizations equal to those within the universe of the Russell Midcap Value Index 1 and/or between $1 billion and $20 billion at the time of purchase. As of the current reconstitution of the Russell Midcap Value Index on June 30, 2022, the market capitalizations of the companies in the index ranged from $6 billion to $47 billion. The fund will normally only purchase securities that are traded on registered exchanges or the over-the-counter market in the United States. The fund may invest in other equity securities, which include preferred stocks, convertible securities and foreign securities, which may take the form of depositary receipts. Maximum weightings in any sector are double that of the benchmark or 25%, whichever is greater. Value stocks as a group may be out of favor and underperform the overall equity market for a long period of time, for example, while the market favors growth stocks. The sub-adviser may use derivatives, including futures contracts, covered call options, options on futures contracts and stock index futures and options, for the purpose of remaining fully invested, equitizing cash, reducing transaction costs or managing interest rate risk. As part of its investment process, the sub-adviser seeks to assess the impact of environmental, social and governance (ESG) factors on many issuers in the universe in which the fund invests. The sub-advisers assessment is based on an analysis of key opportunities and risks across industries to seek to identify financially material issues with respect to the funds investments in securities and ascertain key issues that merit engagement with issuers. These assessments may not be conclusive and securities of issuers may be purchased and retained by the fund for reasons other than material ESG factors while the fund may divest or not invest in securities of issuers that may be positively impacted by such factors. 1 Russell and other service marks and trademarks related to the Russell indexes are trademarks of the London Stock Exchange Group companies. Show less