Fund Description

The fund seeks long-term capital appreciation in the small-capitalization market while aiming to incur less risk than the small-cap market. It invests in a select group of U.S. and non-U.S. small-cap companies that the subadviser believes have sustainable competitive advantages and are attractively priced. Under normal circumstances, it invests at least 80% of net assets (plus borrowing for investment purposes) in common stocks of global small-cap companies, defined at purchase as those with market capitalizations under $10 billion. It intends to diversify globally, may invest in emerging markets issuers, and typically holds about 30-60 securities, including common and preferred stocks and Depositary Receipts.