Fund Description

The fund invests in stocks of companies principally based outside the United States. Under normal conditions, it invests at least 65% of net assets, plus any borrowings for investment purposes, in equity securities of small companies as defined by the market-cap range of the S&P Developed Ex-U.S. SmallCap Index. It uses a blend strategy across growth and value stocks and invests in value and growth companies that it believes to be undervalued relative to their fundamentals. Equity securities in which the fund may invest include common stocks, preferred stocks, equity interests in trusts (including real estate investment trusts), and instruments convertible or exercisable into the foregoing, and may include ADRs. It may invest up to 15% in emerging markets, may invest in U.S. companies, may hedge currency exposure, and may use derivatives for hedging, risk management, cash management, or non-hedging return or income.