Fund Description

The fund primarily invests in non-U.S. securities, focusing on issuers in emerging markets. Non-U.S. securities are defined as investments economically tied to countries or regions outside the U.S., including those classified as emerging markets by MSCI or the World Bank. The Adviser evaluates factors like issuer classification, domicile, and revenue generation to determine geographical ties. The fund predominantly invests in common stocks, targeting securities of companies deemed undervalued compared to their peers through fundamental analysis. Effective December 11, 2025, at least 80% of assets will be allocated to value companies, identified through various financial metrics. Derivative instruments aligned with this strategy are also included in the fund's investment policies.