Fund Description

The fund uses an integrated approach combining research, portfolio design, portfolio management, and trading. It seeks broad diversification across non-U.S. developed market companies, sectors, and countries within a market-cap-weighted international universe approved by the Advisor. It invests across company sizes with meaningfully increased exposure to smaller-cap, lower relative price (value), and higher profitability companies versus the universe, and may adjust or exclude holdings based on shorter-term considerations such as price momentum, short-run reversals, and investment characteristics. Under normal circumstances, it invests at least 80% of net assets in equity securities, may use depositary receipts, futures and options on futures to manage equity exposure, and may use foreign currency transactions. It may lend securities to generate additional income.