Why has the Board recommended that I vote in favor of the new Subadvisory Agreement with Global Index Advisors, Inc. (Proposal 2)?
In connection with the structural conversion of each Outlook Fund, Funds Management recommended to the Board that GIA serve as subadviser to the Outlook Funds because of their expertise with life cycle investments. GIA created the first target retirement investment indexes, the Dow Jones Target Date Indexes, which the Funds will seek to replicate. GIA has a long-standing relationship with Dow Jones, having created many other indexes for that firm. If approved, Funds Management will delegate its responsibility of allocating the Funds assets among various proprietary investment companies to GIA. The Board believes that this proposal is in the best interest of the Funds shareholders and recommends a favorable vote on this proposal after considering many factors, including the ability to broaden the Funds diversification, the potential benefits of tracking the Dow Jones Target Date Indexes, and GIAs demonstrated ability to replicate the indexes.