Strategy. The Portfolio seeks to provide investment results that correspond with the performance of the MSCI Emerging Markets Index (the Index). The Index includes a number of regions, market segments/sizes and covers approximately 85% of the free float-adjusted market capitalization in each of the countries represented in the Index. The subadviser seeks to achieve the Portfolios objective by investing in a sampling of stocks included in the Index by utilizing a statistical technique known as optimization. The goal of optimization is to select stocks which ensure that characteristics such as industry weightings, average market capitalizations and fundamental characteristics ( e.g. , price-to-book, price-to-earnings, debt-to-asset ratios and dividend yields) closely approximate those of the Index. The subadviser may also invest the Portfolios … Show more… The Portfolio seeks to provide investment results that correspond with the performance of the MSCI Emerging Markets Index (the Index). The Index includes a number of regions, market segments/sizes and covers approximately 85% of the free float-adjusted market capitalization in each of the countries represented in the Index. The subadviser seeks to achieve the Portfolios objective by investing in a sampling of stocks included in the Index by utilizing a statistical technique known as optimization. The goal of optimization is to select stocks which ensure that characteristics such as industry weightings, average market capitalizations and fundamental characteristics ( e.g. , price-to-book, price-to-earnings, debt-to-asset ratios and dividend yields) closely approximate those of the Index. The subadviser may also invest the Portfolios assets in investments with economic characteristics that are comparable to the economic characteristics of securities included in the Index , including derivatives, such as contracts for difference . Stocks not in the Index may be held before or after changes in the composition of the Index or if they have characteristics similar to stocks in the Index. Under normal circumstances, all of the Portfolios investments will be selected through the optimization process, and at least 80% of its net assets will be invested in securities included in the Index or in investments that the subadviser determines have economic characteristics that are comparable to the economic characteristics of securities included in the Index. The Portfolio may invest in ETFs, including to gain exposure to certain local markets that may be closed, or that are expensive or difficult to trade in local shares. The Portfolio will not concentrate, except to approximately the same extent as the Index may concentrate, in the securities of any industry. It is not anticipated, however, that the Portfolio will, under normal circumstances, be concentrated in the securities of any industry. Because the Portfolio will generally not hold all of the stocks included in the Index, and because the Portfolio has expenses and the Index does not, the Portfolio will not duplicate the Indexs performance precisely. However, the subadviser believes there should be a close correlation between the Portfolios performance and that of the Index in both rising and falling markets. Show less