EMERGING MARKETS VALUE FUND INVESTOR CLASS (AEVVX) Exchange: NMFQS

DELISTED - In selecting stocks for the fund, the portfolio managers select primarily from publicly-traded companies of all sizes located in the emerging market countries that comprise the MSCI Emerging Markets Index.   The MSCI Emerging Markets Index is a market capitalization-weighted index that monitors, as of the date of this prospectus, the performance of value stocks in the following emerging markets countries: Brazil, Chile, China, Colombia, Czech Republic, Egypt, Greece, Hungary, India, Indonesia, Korea, Malaysia, Mexico, Peru, Philippines, Poland, Qatar, Russia, South Africa, Taiwan, Thailand, Turkey and United Arab Emerites.  The managers use quantitative models in a two-step process to construct the portfolio of stocks for the fund. First, the managers rank stocks from most attractive to least attractive based on each stock’s valuation, sentiment, and quality, as well as its growth potential. Second, the portfolio managers use a quantitative model to build a portfolio of stocks from the ranking described above that they believe will provide the optimal balance between risk and expected return. The portfolio managers generally sell a stock when they believe it has become less attractive relative to other opportunities, its risk characteristics outweigh its return opportunity or specific events alter its prospects. Under normal market conditions, at least 80% of the fund’s net assets will be invested in emerging market securities. The fund may change this 80% policy only upon 60 days’ prior written notice to shareholders.The fund may engage in active and frequent trading of portfolio securities to achieve its principal investment strategies. This may cause higher transaction costs and may affect performance. It may also result in the realization and distribution of capital gains.