Fund Description

The fund invests at least 80% of net assets plus any borrowings in non-U.S. equity securities and equity-like instruments of companies included in, or with characteristics similar to, those in the MSCI EAFE Index, and in derivatives economically tied to MSCI EAFE Index securities or related market risk factors. It primarily buys common stock and may invest in preferred stock, IPOs, and convertible securities. It may hold U.S. dollar or non-U.S. dollar securities hedged or unhedged, use currency transactions to seek total return, and use options, futures, swaps, and forwards to increase return, hedge risks, and manage cash flows, using proprietary return forecast models that incorporate quantitative analysis, and constructing and rebalancing the portfolio by integrating investment insights with a model-based optimization process.