Responsible ESG U.S. Equity Portfolio (RESGX)

Maximumlong-term total return consistent with reasonable risk to principal.

Usingquantitative analysis, under normal market circumstances, the Portfolio invests at least 80% of the value of its net assets (includingborrowings for investment purposes) in equity securities, such as common stocks, of large cap companies tied economically to the U.S.that meet the Portfolio’s environmental criteria. The Advisor considers a company to be tied economically to the U.S. if the company:1) is organized under the laws of the U.S., 2) maintains its principalplace of business in the U.S., 3) is traded principally in the U.S. or 4) at the time of purchase, is included in a U.S. equity indexmanaged by S&P Global Ratings (“S&P”) or FTSE Russell (“Russell”). Larger cap companies include companieswith market capitalizations, at the time of purchase, within the market capitalization range of any stock in the Russell 1000®Index. That capitalization range was $17 million to $2.9 trillion as of December 31, 2023.Aspart of its process, the Advisor identifies companies that satisfy its certain identified environmental criteria, such as pollution prevention,environmental transparency and resource efficiency. The evaluation process is conducted on an industry-specific basis and involves thereview of key indicators. These categories may be changed without shareholder approval. The Advisor also evaluates company environmentaldisclosure practices, including the existence of climate change policies and emissions reduction initiatives, as well as considerationof the company’s involvement in health and safety issues related to environmental controversies.TheAdvisor’s process also employs negative screening to exclude from consideration those companies that do not meet minimumenvironmental performance standards, evidenced by a rank in the bottom quintile by a third-party data provider. The Advisor complementsits environmental criteria by incorporating environmental metrics (both absolute third-party environmental data provider scores andmomentum in the form of 12-month positive change in third-party environmental data provider scores) in a multi-factor modelto select stocks that its models identify as having reasonable prices, good fundamentals and rising earnings expectations. These modelsrank securities based on certain criteria, including valuation ratios, profitability and earnings-related measures. The Portfolio usesfavorable environmental metric scores as an overlay to the model to tilt its investments towards companies which demonstrate strongerenvironmental characteristics, such as lower emissions intensity, and stronger disclosure around policies, practices, and industry standardsto shift to a low carbon economy. The Portfolio may actively trade its securities to achieve its principal investment strategies.