Strategy. Under normal circumstances, this Fund invests at least 80% of its assets in securities of companies with small market capitalizations included in the Funds applicable benchmark index, including instruments representative of that index (such as derivatives). The securities in the Funds applicable benchmark index are those that are included in the Russell 2000 Value Index. The Russell 2000 Value Index measures the performance of the small-capitalization value segment of the U.S. equity universe. It includes those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. 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 … Show more… Under normal circumstances, this Fund invests at least 80% of its assets in securities of companies with small market capitalizations included in the Funds applicable benchmark index, including instruments representative of that index (such as derivatives). The securities in the Funds applicable benchmark index are those that are included in the Russell 2000 Value Index. The Russell 2000 Value Index measures the performance of the small-capitalization value segment of the U.S. equity universe. It includes those Russell 2000 companies with lower price-to-book ratios and lower forecasted growth values. 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 $2.8 billion. The sub-adviser principally invests in common stock. The Fund will generally hold substantially all of the stocks in the index in approximately the same proportions as their weightings in the index. The sub-adviser will utilize a sampling approach to seek to replicate the performance of the Russell 2000 Value Index by investing in a portfolio of securities in the Russell 2000 Value Index that collectively has an investment profile similar to that of the Russell 2000 Value Index. The sampling approach may result in a small portion of the portfolio being invested in certain stocks in proportions that are not approximately the same as their index weightings, but which are expected to result in a portfolio that has, in the aggregate, investment characteristics (based on factors such as market capitalization and industry weightings), fundamental characteristics (such as return variability and yield) and liquidity measures similar to those of the Funds benchmark index. The Fund will not concentrate, except to the same approximate extent as its index may concentrate, in the securities of a particular industry or group of industries (also known as a sector). As of December 31, 2024, a significant portion of the Fund is represented by securities of companies in the Financial sector. The weightings of the Fund are likely to change over time as the composition of the index changes over time. The Fund will not deviate from the above noted strategies at any time for any reason. The Fund may become non-diversified, as defined under the Investment Company Act of 1940 Act, solely as a result of a change in relative market capitalization or index weighting of one or more constituents of the index. The Fund may lend its portfolio holdings to certain financial institutions. Show less