Pear Tree Axiom Emerging Markets World Equity Fund Institutional Shares 

Under typical market conditions, this fund commits at least 80% of its total assets (including any capital acquired through borrowing) to equity instruments issued by companies in emerging markets. This encompasses a variety of securities, such as common stocks, American Depositary Receipts (ADRs), warrants, and rights. Additionally, the fund retains the option to utilize derivatives, which are financial tools whose value is determined by or linked to the price changes of other underlying assets like securities, currencies, or market indices. These derivatives may be employed either to mitigate potential risks within the portfolio (hedging) or to establish a strategic position for future market movements.