Strategy. In managing the Fund, the adviser identifies companies that, in the advisers opinion, are facilitating social and economic advancement and are thus well-positioned to benefit from growing demand for investments that are furthering social advancement. For purposes of the Funds name and investment theme, social advancement is defined broadly as social and economic empowerment of people and communities across all levels of society through access to goods and services that the adviser believes allow people to survive and thrive. Such goods and services include essential amenities (such as food, sanitation, utility and baby care products), housing, healthcare, education and training, attainable financing solutions (such as accessible consumer banking, microfinance and small business lending, and mobile payment technologies) for individuals and … Show more… In managing the Fund, the adviser identifies companies that, in the advisers opinion, are facilitating social and economic advancement and are thus well-positioned to benefit from growing demand for investments that are furthering social advancement. For purposes of the Funds name and investment theme, social advancement is defined broadly as social and economic empowerment of people and communities across all levels of society through access to goods and services that the adviser believes allow people to survive and thrive. Such goods and services include essential amenities (such as food, sanitation, utility and baby care products), housing, healthcare, education and training, attainable financing solutions (such as accessible consumer banking, microfinance and small business lending, and mobile payment technologies) for individuals and communities across socioeconomic levels, and digital infrastructure solutions. In managing the Fund, the adviser identifies companies that, in the advisers opinion, currently are providing access to or investing in such goods or services, or are in the process of developing products or services to facilitate such access to such goods or services. The Fund is a thematic fund meaning that the Fund seeks to identify and invest in companies that are relevant to the investment theme of social advancement. Companies are selected in relation to the following key sub-themes: Essential Amenities Companies that the adviser believes are providing products or solutions for basic human needs such as food, sanitation, utility services and baby care products. Affordable Housing and Infrastructure Companies that the adviser believes are investing in housing or infrastructure for all socioeconomic levels. Healthcare and Wellbeing Companies that the adviser believes are investing in and providing solutions for physical and mental health and wellness. Education and Training Talent Companies that the adviser believes are providing educational materials and platforms to all levels of society or helping to provide skills to populations. Attainable Financing Companies that the adviser believes are providing financial services to individuals at all socioeconomic levels or microfinancing solutions. Accessing the Digital Ecosystem Companies that the adviser believes are facilitating digital access through hardware, software or platform infrastructure. These sub-themes may change from time to time as businesses, technologies, products, services, and practices evolve or emerge to facilitate social advancement. Under normal circumstances, the Fund invests at least 80% of its Assets in equity securities of companies that are facilitating social advancement as determined by the adviser based on its sustainable investment inclusion process (the 80% policy). Assets means net assets, plus the amount of borrowings for investment purposes. In implementing its main strategies, the Fund invests primarily in common stocks, depositary receipts and real estate investment trusts (REITs). The Fund is not managed to an index and may invest in equity securities in both U.S. and foreign markets, including emerging markets. The Fund may invest a significant portion of its assets in small capitalization companies and have significant positions in specific sectors or markets from time to time. Derivatives, which are instruments that have a value based on another instrument, exchange rate or index, may be used as substitutes for securities in which the Fund can invest. The Fund may use futures contracts to gain or reduce exposure to equity markets, maintain liquidity and minimize transaction costs. In managing cash flows, the Fund may use futures contracts to invest incoming cash in the market or sell futures contracts in response to cash outflows, thereby gaining equity market exposure while maintaining a cash balance for liquidity. The Fund is non-diversified and may invest a greater percentage of its assets in a particular issuer or group of issuers than a diversified fund would. Investment Process : The Fund is an actively managed Fund and applies the investment process described below to select investments for the Fund, other than its investments in derivatives and money market funds. The adviser begins with a universe of over 10,000 stocks of companies of all capitalization levels in both developed and emerging markets as potential investments for the Fund. In identifying companies that are facilitating social advancement from the starting universe, the adviser uses the following three steps. Exclusionary Framework: As an initial step, the Fund seeks to avoid investing in companies that the adviser has determined, based on its exclusionary framework, to be significantly involved in certain business activities or industries, such as controversial weapons, thermal coal, or tobacco production. This exclusionary framework relies on multiple data inputs, including information from third-party providers who identify an issuers participation in or the revenue which they derive from activities that are inconsistent with values- and norms-based screens. The adviser may modify the exclusionary framework without notice to shareholders to, among other things, modify the data inputs, change third-party data providers, or add or remove certain business activities or industries from the screening process. Identification of Opportunity Set: After applying the exclusionary framework, the adviser uses its proprietary system, known as Themebot to help identify companies that are facilitating social advancement through their products and services. Themebot is designed to recognize key words and concepts that the adviser believes are attributable to such companies. Through natural language processing, Themebot analyzes public documentation such as regulatory filings, broker reports, news reports or company profiles sourced directly from the applicable company or third parties. As part of its process, Themebot determines textual relevance (based, in part, on the occurrences of key words and phrases), and revenues from the products or services that the adviser has identified as facilitating social advancement. Based on this processing, Themebot systematically ranks stocks based on textual relevance and revenue attribution to help the adviser prioritize its review of individual companies for inclusion in the portfolio. Sustainable Investment Inclusion Process: The adviser then reviews individual securities using the advisers proprietary sustainable investment inclusion process to identify securities that the adviser believes are facilitating social advancement. For all companies reviewed by the adviser under the sustainable investment inclusion process, the adviser analyzes: (1) the applicable environmental and/or social benefits associated with a companys products and services and how they are facilitating social advancement, (2) the risks to the company, including whether there are business activities in other areas that could negate the positive benefits created by the companys products or services, and (3) the governance qualifications of the company such as an evaluation of management structure, employee practices, remuneration of staff and tax compliance. The process also uses a revenue threshold of 20% (subject to change as determined by the adviser from time to time) to determine whether a companys products and services facilitate social advancement subject to review by the adviser to determine whether such revenue is reasonably attributable to such products or services. For companies that are identified as being below the revenue threshold or where the adviser determines that revenue is not available, relevant or meaningful, the adviser may still determine that the company facilitates social advancement based on one or more of the following considerations: (1) an identification of who benefits from the companys products and services, (2) the scale and scope of the companys products and services, and (3) the social or environmental outcomes associated with the companys products and services and whether such outcomes would happen without such products or services. Only companies that the adviser has identified as facilitating social advancement under the sustainable investment inclusion process are eligible for inclusion under the Funds 80% policy. Security Selection . After identifying the companies that it believes are facilitating social advancement, the adviser selects securities using an active, bottom-up investment approach to determine which companies are best positioned to achieve the Funds objective of long-term capital appreciation based on fundamental analysis, including ongoing discussions between the advisers stewardship team and/or investment team and companies (also known as engagement). For purposes of the Funds 80% policy, the adviser is not limited to companies identified by Themebot and may add companies that have not been identified by Themebot but which the adviser has determined to be facilitating social advancement using the sustainable investment inclusion process. If a company ceases to qualify as a company that facilitates social advancement, the adviser may sell the security or alternatively retain the security if the adviser believes the company can resolve the issue in the short-term based on the adviser's engagement with the company or other available information. Up to 20% of the Funds Assets may be invested in cash and cash equivalents, derivatives, and investments that do not satisfy the advisers sustainable investment inclusion process and/or in investments that are not directly related to the sub-themes listed above. In addition, for temporary defensive purposes, any portion of the Funds total assets may be invested in cash and cash equivalents, including affiliated money market funds. Show less