Fund Description

The fund invests primarily in equity securities of companies that are small-sized at the time of purchase and located in foreign developed countries or emerging market countries. Portfolio managers seek stocks they believe will increase in value over time using an advisor-developed strategy, basing decisions mainly on analysis of individual companies rather than economic forecasts. Management is based on the belief that stock prices follow growth in earnings, revenues and/or cash flow. Managers use various research tools to buy/hold stocks meeting criteria and sell those that do not, seeking companies with accelerating growth. The fund may trade actively and frequently, leading to higher transaction costs and potential capital gains distributions.