The World ex US Targeted Value Portfolio is a no-load mutual fund designed to achieve long-term capital appreciation. The portfolio seeks to achieve its investment objective through exposure to a broad portfolio of securities of non-US companies, with a focus on small and mid-cap value companies. The portfolio includes securities of companies in developed markets outside the US as well as emerging market countries. The portfolio may include securities of companies in frontier markets (emerging market countries in an earlier stage of development). An equity issuer is considered a value company primarily because it has a high book value in relation to its market capitalization. In assessing growth and value, Dimensional may consider additional factors, such as price-to-cash flow or price-to-earnings ratios, as well as economic conditions and developments in the issuer's industry. The criteria Dimensional uses for assessing value is subject to change from time to time. At inception, as a means to achieve broad diversification across international markets, the portfolio will invest substantially all of its assets in the DFA International Small Cap Value Portfolio, the International Vector Equity Portfolio, the Dimensional Emerging Markets Value Fund and the Emerging Markets Small Cap Series. The portfolio will begin purchasing securities of non-US operating companies directly once assets in the portfolio reach a level that allows for the desired diversification across the international markets. The direct purchase of these securities will depend on market movements and other factors that Dimensional will consider in seeking to efficiently manage the portfolio.

For a full description, please consult the Portfolio's prospectus.