| Investment Objective: |
The Fund seeks long-term total return. The Fund invests primarily in equity securities, principally common stocks and preferred stocks of large cap companies. PanAgora Asset Management, Inc., the Fund's subadvisor ("PanAgora" or the "Subadvisor"), employs a bottom-up approach that integrates fundamental and quantitative techniques with risk management tools. In evaluating and selecting investments for the Fund, PanAgora employs a proprietary framework using quantitative models that seeks to identify companies that offer above-market return potential based on certain metrics measuring a company's financial and operational health. The Subadvisor believes that excess returns compared to the Fund's benchmark, the S&P 500 Index (or "alpha") can be generated over the long term by investing in high-quality companies with strong management and superior competitive edge, positive sentiment and/or attractive valuations. The Subadvisor maintains an inventory of alpha factors that fall into categories including, but not limited to, value, momentum, and quality factors. These factors seek to systematically capture fundamental business strength and qualities. |
