Strategy. Under normal circumstances, the Fund invests at least 80% of its assets in small-capitalization equity securities. The sub-adviser generally considers the following to be small-capitalization companies: (i) companies smaller than the largest 1,000 U.S. companies; (ii) companies representing the bottom 10% of the market capitalization of all U.S. listed companies; and (iii) companies in the Russell 2000 Value Index, which measures the performance of the small-capitalization value segment of the U.S. equity universe. As of December 31, 2024, the market capitalization range of the Russell 2000 Value Index was approximately $6.1 million to $13.2 billion. As of December 31, 2024, the weighted average market capitalization of the Fund was approximately $3.3 billion. The sub-adviser normally invests the Funds assets across … Show more… Under normal circumstances, the Fund invests at least 80% of its assets in small-capitalization equity securities. The sub-adviser generally considers the following to be small-capitalization companies: (i) companies smaller than the largest 1,000 U.S. companies; (ii) companies representing the bottom 10% of the market capitalization of all U.S. listed companies; and (iii) companies in the Russell 2000 Value Index, which measures the performance of the small-capitalization value segment of the U.S. equity universe. As of December 31, 2024, the market capitalization range of the Russell 2000 Value Index was approximately $6.1 million to $13.2 billion. As of December 31, 2024, the weighted average market capitalization of the Fund was approximately $3.3 billion. The sub-adviser normally invests the Funds assets across different groups of industries/sectors, but may invest a significant percentage of the Funds assets in issuers in a single sector. As of December 31, 2024, a significant portion of the Fund is represented by securities of companies in the Financial sector. The Fund normally invests primarily in the common stock of companies located in the United States. To determine whether a company is a U.S. company, the sub-adviser will consider various factors, including where the company is headquartered, where the companys principal operations are located, where a majority of the companys revenues are derived, where the principal trading market is located, the country in which the company was legally organized, and whether the company is in the Russell 2000 Value Index. In buying and selling securities for the Fund, the sub-adviser uses fundamental analysis of factors such as each issuers financial condition and industry position, as well as market and economic conditions. In selecting investments for the Fund, the sub-adviser seeks securities of small-capitalization companies with higher profitability and value characteristics. The sub-adviser defines profitability mainly as adjusted cash from operations to book value ratio (though other ratios may be considered). The sub-adviser defines value characteristics of an issuer mainly using adjusted book/price ratios (though other price to fundamental ratios may be considered). The Fund may lend its portfolio holdings to certain financial institutions. Show less