Fund Description

The fund invests at least 80% of net assets (plus any borrowings for investment purposes) in publicly traded equity securities of companies primarily traded on China or Hong Kong exchanges or deriving at least 50% of revenues from business activities in China and/or Hong Kong, including those listed elsewhere. It may hold common and preferred stocks, convertible securities, rights, and warrants. It normally holds about 35 approximately equal-weight positions, but may range from as few as 25 to 75 or more, and may invest across market caps, generally with a $500 million minimum. For temporary defensive purposes, any portion may be held in cash and cash equivalents. The fund is designed for investors who seek long-term capital appreciation through focused investment in securities of companies traded in or economically tied to China and Hong Kong.