Fund Description

The fund normally invests at least 80% of net assets in common stocks and convertible securities of companies organized, domiciled, or with a principal office outside the United States, whose securities primarily trade outside the United States, or that derive at least 50% of revenue or profits, or have at least 50% of sales or assets, outside the United States. It invests in companies of any size and usually does not focus on a particular industry or country, often dividing assets among continental Europe, the United Kingdom, Japan, and Asia/Pacific. It may invest up to 20% of total assets in emerging markets and may use ADRs, EDRs, GDRs, or similar vehicles. The adviser uses quantitative modeling and qualitative analysis, monitors macroeconomic and political trends, and sells when ranks deteriorate, prices rise, fundamentals change, or other investments appear more attractive.