Strategy. Under normal circumstances, the Portfolio will invest at least 80% of its assets (net assets plus any borrowings for investment purposes) in securities of mid capitalization companies. The subadvisor, Schroder Investment Management North America Inc. (the Subadvisor), uses bottom-up fundamental analysis to select securities. The Subadvisor seeks to identify securities that it believes offer the potential for capital appreciation based on: novel, superior, or niche products or services; sound operating characteristics; quality of management; an entrepreneurial management team; opportunities provided by mergers, divestitures, or new management; or other factors. The Subadvisor may evaluate financially material issues such as climate risk, environmental performance, labor standards and corporate governance, among others, which they view as important in their assessment of an investments … Show more… Under normal circumstances, the Portfolio will invest at least 80% of its assets (net assets plus any borrowings for investment purposes) in securities of mid capitalization companies. The subadvisor, Schroder Investment Management North America Inc. (the Subadvisor), uses bottom-up fundamental analysis to select securities. The Subadvisor seeks to identify securities that it believes offer the potential for capital appreciation based on: novel, superior, or niche products or services; sound operating characteristics; quality of management; an entrepreneurial management team; opportunities provided by mergers, divestitures, or new management; or other factors. The Subadvisor may evaluate financially material issues such as climate risk, environmental performance, labor standards and corporate governance, among others, which they view as important in their assessment of an investments risk and potential for profitability. The Portfolio may invest in common and preferred stocks, as well as in over-the-counter securities. Based on market or economic conditions, the Portfolio may, through its stock selection process, focus in one or more sectors of the market. However, the Portfolio will not concentrate in any industry or group of industries. The Portfolio currently defines mid cap companies as companies with a market capitalization within the collective range of the Russell Midcap Index and S&P MidCap 400 Index. As of February 28, 2025, this range was approximately $134 million to $199 billion. The market capitalization range of these indices changes over time. Show less