Fund Description

The fund seeks to achieve its investment objective through a fully managed, actively managed unconstrained global equity strategy. Under normal circumstances, it invests at least 80% of net assets (plus any borrowings for investment purposes) in equity and equity-related securities, including common and preferred stock, warrants, depositary receipts, and instruments linked to common stock; it may also buy convertible securities. It has no geographic limits, may invest across market capitalizations and in emerging growth companies, and holdings may deviate materially from the MSCI World Index, with potential exposure to a limited number of investments, countries and/or sectors. It may use derivatives for return, hedging, and cash-flow management; may invest in real estate-related securities including REITs; may invest in indexed and inverse securities; may hold non-U.S. currencies and foreign cash equivalents; and is non-diversified.