| Investment Objective: |
The Russell Midcap Value Index is a market capitalization-weighted index designed to measure the performance of the mid-cap value segment of the U.S. equity market. Derivative instruments that provide investment exposure to the investments above or exposure to one or more market risk factors associated with such investments are included in the fund's 80% policy, consistent with the fund's investment policies and limitations with respect to investments in derivatives. The Russell Midcap Value Index applies a capping methodology. Index constituents are capped quarterly so that no more than 22.5% of the index weight may be allocated to a single constituent, and the sum of the weights of all constituents representing more than 4.5% of the index should not exceed 45% of the total index weight. Generally utilizing a research-driven approach identifying long-term drivers of stock returns like valuation, growth, quality, etc. The research is systematically applied alongside a proprietary portfolio construction and risk management framework to select a broadly diversified group of stocks that may have the potential to provide a higher total return than that of the Russell Midcap Value Index. |
