Strategy. The Fund invests, under normal market conditions, at least 80% of its assets in equity securities of non-U.S. issuers. The Funds 80% policy is a non-fundamental investment policy that can be changed by the Fund upon 60 days prior notice to shareholders. The Fund pursues its objective by seeking to track the total return, before Fund fees and expenses, of the TOBAM AntiBenchmark International Core Equity Index (the Index). The Index is a proprietary rulesbased index created by the Funds subadviser, TOBAM S.A.S. (TOBAM), which is designed to create a more diversified portfolio of equity securities of non-U.S. issuers relative to traditional market capitalization weighted benchmarks. The Fund intends to fully replicate the Index to achieve its investment objective, meaning … Show more… The Fund invests, under normal market conditions, at least 80% of its assets in equity securities of non-U.S. issuers. The Funds 80% policy is a non-fundamental investment policy that can be changed by the Fund upon 60 days prior notice to shareholders. The Fund pursues its objective by seeking to track the total return, before Fund fees and expenses, of the TOBAM AntiBenchmark International Core Equity Index (the Index). The Index is a proprietary rulesbased index created by the Funds subadviser, TOBAM S.A.S. (TOBAM), which is designed to create a more diversified portfolio of equity securities of non-U.S. issuers relative to traditional market capitalization weighted benchmarks. The Fund intends to fully replicate the Index to achieve its investment objective, meaning the Fund will generally invest in all of the component securities of the Index in the same approximate proportions as the Index. The equity securities that comprise the Index primarily include common and preferred stock of non-U.S. companies that trade on foreign exchanges. TOBAM may replace the common or preferred stock of a foreign issuer with a depositary receipt when it deems the depositary receipt to be more liquid than the corresponding stock. In determining whether a company is foreign, TOBAM primarily looks to both the country of incorporation and the main listing country. If both of these countries are non-U.S., the company is considered non-U.S. for purposes of inclusion in the Index. The Index is comprised of securities of issuers located in developed markets. TOBAM considers the following countries to be developed markets for these purposes: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. The Index is based on TOBAMs proprietary quantitative model, which selects and weights companies to maximize diversification. TOBAM quantitatively selects securities, subject to certain constraints, that maximize the portfolios patented Diversification Ratio , a proprietary mathematical metric based on the volatility of each Index constituent and its correlation to the other Index constituents. Such constraints include a minimum and maximum weight for any given stock, as well as geographic and country constraints. TOBAMs Anti-Benchmark strategy seeks to avoid the concentration risk that exists in traditional market capitalization-weighted indices through its quantitative approach to diversification. The Index typically is reconstituted (i.e., Index constituents are added or deleted and weights are reset) monthly. The Fund is rebalanced following the same schedule as the Index. The Fund may engage in frequent and active trading as part of its principal investment strategies. Show less