Fund Description

The fund invests primarily in equity securities, typically common stock, of small foreign companies and foreign growth companies. Under normal conditions, it targets companies with market capitalizations of at least $100 million and generally up to $5 billion at purchase, or up to the market capitalization of the largest company in the MSCI ACWI ex USA Small Cap Index, whichever is greater, and invests in at least five countries in that index. It may invest 5% to 70% of total assets in emerging and frontier markets. The fund uses quantitative screening followed by bottom-up fundamental analysis, and the managers travel outside the U.S. to visit companies and expect to meet with senior management. It may invest in early stage companies, does not use allocation models, and may concentrate in particular regions or sectors.