Strategy. The funds subadviser, Sustainable Growth Advisers, LP (SGA), uses an investment process to identify companies that it believes have a high degree of predictability, strong profitability and above average earnings and cash flow growth. From such companies, SGA identifies new leaders which are companies early in their life cycle, with a focus on companies that demonstrate high quality balance sheets and sustainable revenue and earnings which the subadviser believes is an indicator of a companys positive growth trajectory. The funds assets are expected to be primarily invested in such companies. The fund will invest in securities of issuers located throughout the world, including the United States (U.S.). Under normal circumstances, the fund will invest primarily in equity securities, with at … Show more… The funds subadviser, Sustainable Growth Advisers, LP (SGA), uses an investment process to identify companies that it believes have a high degree of predictability, strong profitability and above average earnings and cash flow growth. From such companies, SGA identifies new leaders which are companies early in their life cycle, with a focus on companies that demonstrate high quality balance sheets and sustainable revenue and earnings which the subadviser believes is an indicator of a companys positive growth trajectory. The funds assets are expected to be primarily invested in such companies. The fund will invest in securities of issuers located throughout the world, including the United States (U.S.). Under normal circumstances, the fund will invest primarily in equity securities, with at least 35% of the funds net assets in issuers organized, headquartered or doing a substantial amount of business outside the U.S. As of the date of this prospectus, the funds subadviser, Sustainable Growth Advisers, LP (SGA), considers an issuer that has at least 50% of its assets or derives at least 50% of its revenue from business outside the U.S. as doing a substantial amount of business outside the U.S. The fund may invest up to 40% of its net assets in the securities of companies located in countries included in the MSCI Emerging Markets Index. SGA selects investments for the funds portfolio that it believes have superior long-term earnings prospects and attractive valuation. To the extent consistent with the funds investment objective and strategies, the subadviser will consider as an element of its investment research and decision making processes for the fund any environmental, social and/or governance (ESG) factors that the subadviser believes may influence risks and opportunities of companies under consideration. However, the pursuit of ESG-related goals is not the funds investment objective, nor one of its investment strategies. Therefore, ESG factors by themselves are not expected to determine investment decisions for the fund. The funds equity investments may include common stocks, preferred stocks, securities convertible into or exchangeable for common stocks, and depositary receipts. The fund may invest in companies of all market capitalizations, however, it will generally invest at least 80% of its assets in companies that at the time of initial investment or within the last 12 months had market capitalizations that do not exceed the largest capitalization constituent of the funds Primary Benchmark at the time of initial purchase or within the last 12 months. As of September 30, 2022, the market capitalization of the largest constituent of the funds Primary Benchmark was $45.1 billion. The funds Primary Benchmark is the MSCI All Country World Index (ACWI) Mid-Cap Index Net Total Return. The fund will allocate its assets among various regions and countries (but no fewer than three non-U.S. countries). From time to time, the fund may have a significant portion of its assets invested in the securities of companies in only a few countries and one or a few regions. Although the fund seeks investments across a number of sectors, from time to time, the fund may have significant positions in particular sectors. The fund is non-diversified under federal securities laws. SGA may trade foreign currency forward contracts or currency futures in an attempt to reduce the funds risk exposure to adverse fluctuations in currency exchange rates. SGA will sell a portfolio holding when it believes the securitys fundamentals deteriorate, its valuation is no longer attractive, or a better investment opportunity arises. Show less