Strategy. The Fund seeks to achieve its investment objective by investing in a diversified portfolio primarily comprised of mid-cap, large-cap and mega-cap equity securities and American Depositary Receipts (ADRs) of companies that, based on the Advisers proprietary research, are leaders in their industries with respect to biodiversity conservation, climate change mitigation and environmental stewardship. The Fund defines mid-cap securities as those with market capitalizations between $2 billion and $10 billion, large-cap securities as those between $10 billion and $100 billion, and mega-cap securities as those over $100 billion. The Advisers strategy to achieve the Funds investment objective involves peer-relative evaluations of companies that operate in industries with significant exposure to the five key drivers of biodiversity loss, which are (i) changes … Show more… The Fund seeks to achieve its investment objective by investing in a diversified portfolio primarily comprised of mid-cap, large-cap and mega-cap equity securities and American Depositary Receipts (ADRs) of companies that, based on the Advisers proprietary research, are leaders in their industries with respect to biodiversity conservation, climate change mitigation and environmental stewardship. The Fund defines mid-cap securities as those with market capitalizations between $2 billion and $10 billion, large-cap securities as those between $10 billion and $100 billion, and mega-cap securities as those over $100 billion. The Advisers strategy to achieve the Funds investment objective involves peer-relative evaluations of companies that operate in industries with significant exposure to the five key drivers of biodiversity loss, which are (i) changes in land, sea and ocean use, (ii) climate change, (iii) pollution, (iv) direct exploitation of species and other natural resources, and (v) invasive and introduced species. Under normal market conditions, the Adviser generally seeks to invest at least 65% of the Funds assets in companies operating in industries that the Adviser believes have significant biodiversity impacts (Primary Industries), and up to 35% of its assets in companies operating in other industries (Secondary Industries) where the Adviser believes a company is engaged in activities that significantly contribute to biodiversity conservation. The Fund reallocates its portfolio at least semi-annually, and in between each reallocation, general trading activity and market fluctuations may result in deviations from these thresholds. The Adviser considers a number of business activities when identifying Primary Industries, which may include, but are not limited to, the following: 1) Manufacturing or distributing products that use animals, animal products or animal product substitutes during the production process, and the Advisers assessment of the relative performance of companies engaged in these activities; 2) Conducting research or scientific investigations involving animals, animal products or animal product substitutes, and the Advisers assessment of the relative performance of companies engaged in these activities; 3) Providing services, including, without limitation, entertainment and travel and leisure services, that have biodiversity impacts, and the Advisers assessment of the relative performance of companies engaged in these activities.; 4) Having business operations that are significantly linked to the sustainability of animal habitats through activities such as natural resources use and certain commodities-related activity such as mining, waste management and environmental emissions, and the Advisers assessment of the relative performance of companies engaged in these activities.; or 5) Businesses that generally seek to promote biodiversity conservation by developing or offering products or services that would benefit animals or improve public opinion about animals. The Fund may also purchase small- and micro-cap equity securities and emerging market securities. The Fund defines small-cap securities as those with market capitalizations between $300 million and $2 billion, and micro-cap securities as those under $300 million. The Fund defines emerging market securities as those that provide exposure to companies that are domiciled in any country included in the Morningstar Emerging Market Index. The Fund may also lend securities. The Fund generally will sell securities when the Adviser believes other opportunities are more attractive, when the biodiversity conservation practices of a company ebb in comparison to those of its peers, or when the Adviser believes the business practices or policies of a company are no longer consistent with the Funds biodiversity-focused criteria. Show less