Fund Description

The fund invests primarily in equity securities of foreign companies, typically those with market capitalizations greater than $5 billion at purchase. Under normal market conditions it invests at least 80% of net assets (plus borrowings for investment purposes) in equity securities, including common and preferred stocks, warrants, and rights. It may invest up to 30% of total assets in emerging or frontier markets, up to 5% in any one company, and at times more than 20% in a single sector. Country exposure may be significant. It may also hold cash or short-term cash equivalents. The adviser applies value investing, targeting securities trading below its estimate of intrinsic value.