Fund Description

The fund normally invests at least 80% of net assets (plus borrowings, if any) in global equity securities, including through derivatives with similar economic characteristics. It focuses on companies with solid fundamentals that are underappreciated by the market, across any market capitalization, industry, or sector, and may invest without limit in developed and emerging markets, including IPOs. It normally maintains a minimum allocation to non-U.S. issuers based on the MSCI World NR Index, with flexibility to reduce it to 30% under unfavorable conditions. Up to 20% may be in debt, cash, and equivalents, including up to 5% in below-investment-grade debt. It may use currency forwards and other derivatives for hedging, substitution, return enhancement, portfolio management, or cash flow management.