Fund Description

The fund invests at least 80% of its Assets (net assets plus borrowings for investment purposes) in securities of issuers in foreign developed countries, including foreign subsidiaries of U.S. issuers, and at least 80% in securities of value companies the adviser believes are undervalued or attractively valued based on factors such as price relative to sales, earnings, and assets. It invests in common stocks and depositary receipts across market capitalizations, may use derivatives as substitutes, and may use currency forwards, futures and ETFs for exposure, cash-flow management and hedging. It generally expects to maintain regional geographic exposures similar to those of the MSCI, Europe, Australasia and Far East (EAFE) Value Index (net total return) over time, although it may deviate.