First Trust’s quantitative research team utilizes both quantitative and fundamental research in managing equity assets. The quantitative equity philosophy is grounded in empirical research and focuses on taking insights and evidence from academia and First Trust’s own proprietary research and transforming it into investable portfolios. The disciplined, repeatable nature of our quantitative investment process removes emotion from the decision-making process and focuses on factors that can be broadly categorized as value, momentum, quality, low volatility, dividend yield or small size. The fundamental investment philosophy is based on the belief that a company’s long- term value is determined by the cash flow it generates. The team believes the disciplined, systematic application of its proprietary process will lead to long-term value creation for clients.