Fund Description

The fund is a feeder portfolio that invests substantially all of its assets in a series designed to hold a broad, market capitalization weighted group of readily marketable securities of small companies associated with European countries designated as approved markets. Under normal circumstances, the series invests at least 80% of net assets in small companies located in continental Europe and may invest up to 20% in small companies associated with approved non-European markets. It may emphasize smaller capitalization, lower relative price, and/or higher profitability stocks, adjust exposures based on shorter-term considerations, use flexible trading to manage costs, and invest via depositary receipts. It may use futures and options on futures for equity exposure management, transact in foreign currencies, and lend securities to generate income.