Fund Description

The fund invests primarily in equity securities of companies located worldwide, mainly common stocks, and may also invest in ADRs and GDRs. It may invest in companies of any size but generally targets market capitalizations of $100 million or more at purchase. Under normal market conditions, it invests in at least three countries, including the United States, with at least 40% of assets in non-U.S. companies in developed and emerging markets. Selection focuses on out-of-favor companies that are undervalued but show signs of improvement, using a quantitative model ranking value measures and indicators of appreciation potential, subject to risk controls.