The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets (plus the amount of borrowings for investment purposes) in dividend-paying securities. Under normal market conditions, the Fund seeks to provide a dividend yield greater than the average dividend yield of the equity securities in the Bloomberg US 3000 Total Return Index, measured on a gross basis. The Fund invests in companies identified by Eventide Asset Management, LLC (“Eventide” or the “Adviser”) as having strong fundamentals, creating value for stakeholders (customers, employees, supply chain, community, environment, society and shareholders), and that, in Eventide’s opinion, represent above-average long-term investment opportunities for dividend income, dividend growth, and stock price capital appreciation. The ethical principles that Eventide uses within its fundamental research process to screen investments are more fully described below under “Values-Based Screening.”

Eventide actively manages the Fund’s portfolio using a long-only investment approach. While the Fund may invest in companies operating in any sector, it generally invests in sectors that Eventide believes have historically offered attractive dividends and shareholder yields, such as energy, utilities, industrials, technology, infrastructure, and real estate sectors. From time to time, Eventide may invest a substantial portion of the Fund’s assets in one or more sectors that are not highly correlated with the overall stock market in Eventide’s judgment.

The Fund invests primarily in U.S. companies but may invest in securities of foreign companies. The Fund’s investments in foreign securities may be made either directly or through American Depository Receipts (“ADRs”), or through direct investment in the securities of foreign issuers listed on U.S. exchanges and denominated in U.S. dollars. Although the Fund will invest primarily in common stocks (including ADRs), the Fund may also invest in real estate investment trusts (“REITs”), exchange-listed preferred securities, and energy infrastructure companies (primarily midstream companies) organized as C corporations. The Fund will invest primarily in large-capitalization companies, which the Fund considers to be those companies that fall within the market capitalization range of the Bloomberg US 1000 Value Total Return Index ($1.5 billion to $878 billion as of June 30, 2024). In normal market conditions, Eventide expects that the Fund will hold less than 10% of its total assets in cash and cash equivalents such as money market funds.

Stock selection is driven by Eventide’s fundamental research and values-based principles. Eventide seeks to invest in attractively valued securities that, in its opinion, represent above-average long-term investment opportunities or have significant near-term appreciation potential. Eventide utilizes a fundamental “bottom-up” analysis to evaluate investments for inclusion in the Fund’s portfolio. This analysis includes financial analysis for determining financial strength and dividend sustainability, qualitative analysis for management assessment, industry positioning, and stakeholder value creation, and valuation analysis to determine risk adjusted return potential with dividends. The portfolio construction process includes attention to diversification and risk management with an overall positioning consistent with specific macro and thematic views of the portfolio manager and investment team.  Positions continue to be monitored for consistency with investment case, price targets, and changes in company fundamentals, including values-based criteria.

Values-Based Screening. Eventide uses its proprietary values-based screening methodology to analyze all potential investments for the company’s ability to operate with integrity and to create value for customers, employees, and other stakeholders by reflecting the values described below. The values assessed in Eventide’s values-based screening process are inspired by the Christian faith and rooted in a biblical worldview. While few companies may reach these ideals in every area of their business, these principles articulate Eventide’s highest expectations for the companies in which the Fund invests. Eventide uses its values-based screening processes in connection with other fundamental research processes to establish the Fund’s eligible investment universe. Securities are generally ineligible within the Fund’s portfolio unless Eventide believes that the values-based screens are met. If Eventide’s research identifies events and/or business changes suggesting that a portfolio company no longer meets the values-based criteria, the Fund may hold the company’s securities while Eventide performs additional research, including possible direct engagement with the company to assess values-based practices. Eventide’s screening process for potential investments does not apply relative weights between values-based factors and financial factors. There is no guarantee that Eventide will be able to successfully screen out all companies that are inconsistent with the following principles which help to guide Eventide’s research and investment framework. Specifically, Eventide seeks to invest in companies that reflect the following values:

Securities may be sold when Eventide believes that they no longer represent relatively attractive investment opportunities or when Eventide believes the underlying company is no longer consistent with Eventide’s values.

The Fund concentrates its investments in the securities of issuers engaged primarily in energy and/or utilities-related industries. The Fund considers an issuer to be engaged primarily in energy or utilities-related industries if such companies derive more than 50% of their revenue from activities within the energy and utilities sectors, as applicable.