Fund Description

The fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of companies economically tied to emerging market countries included in the MSCI Emerging Markets Index at the time of investment. A company may qualify through organization or principal office in an emerging market, deriving at least 50% of revenues or profits from emerging market activities, or primary trading on an emerging market exchange. Investments may include common, preferred and convertible stock, and warrants, including restricted securities, across large-, mid- and small-cap companies. It is actively managed using bottom-up fundamental analysis aimed at identifying growing but stable companies trading at attractive valuations relative to anticipated growth in revenue and earnings, and may sell positions when price targets are met, fundamentals deteriorate, better opportunities arise, or cash is needed for redemptions.