Fund Description

The fund invests in a diversified portfolio primarily of global equity securities of dividend-paying companies with a history of attractive dividend yields and positive growth in free cash flow. Under normal circumstances, it invests at least 80% of total assets in such equities. At least 40% of net assets is invested in non-U.S. issuers, or at least 30% if market conditions or valuations are less favorable. It may invest up to 20% in emerging markets and up to 20% in debt, including below-investment-grade bonds. Holdings may be U.S. dollar or foreign currency denominated. The manager seeks to produce a portfolio with a dividend yield exceeding that of the MSCI World Index. It may use limited derivatives, hold up to 15% in illiquid investments, and trade actively.