Fund Description

The fund invests primarily in common stocks of U.S. and foreign companies, with unlimited foreign exposure, including ADRs, and the ability to invest in any country, including emerging markets, and emphasizes investments in the United States and other developed markets in Europe. It is not required to maintain set country allocations, but normally invests in at least three countries. It focuses mainly on mid- and large-cap stocks, and may also invest in preferred stocks, cash, and cash equivalents. It may use exchange-traded options for hedging or long/short positions, which may create leverage, and may have significant exposure to certain industries or sectors.