Fund Description

The fund invests in securities of U.S. and non-U.S. issuers, including non-dollar and emerging market securities, focusing on equities and equity-related investments such as common and preferred stocks, convertibles and warrants across market capitalizations. Under normal circumstances, it invests at least 80% of net assets plus borrowings in companies the Manager identifies as capable of reducing, displacing and/or sequestering greenhouse gas emissions or helping others do so, while emphasizing securities believed to offer superior risk-adjusted returns. It is nondiversified and concentrates at least 25% in energy industry companies, but may invest across other industries. The Manager identifies "reducers" and "facilitators," using company disclosures and third-party sources, and selects holdings based on financial analysis, governance, shareholder alignment and capital allocation.