Fund Description

The fund invests, under normal market conditions, at least 80% of net assets (plus any borrowings for investment purposes) in equity securities of companies economically tied to countries outside the U.S. with potential for attractive long-term growth in earnings, cash flow and total worth. It may invest in common and preferred stocks, warrants or rights, convertible preferred stock, and depositary receipts such as ADRs, GDRs and EDRs. The fund also may invest in issuers located in emerging market countries and may invest in issuers of all market capitalizations. The subadviser uses quantitative tools in a bottom-up, fundamentally based process to build a portfolio seeking to maximize expected return within long-run active risk constraints. It may use ETFs to equitize cash, gain market or sector exposure, or hedge, may lend securities, and may sell holdings that no longer meet criteria. Benchmark: MSCI ACWI ex-US Index.