Fund Description

The fund was incepted in January 1995 and is managed by New York Life Investment Management. The objective of this fund is to provide long-term growth of capital, commensurate with an acceptable level of risk, by investing in a portfolio consisting primarily of non-U.S. equity securities. Current income is a secondary objective. The fund seeks to generate superior risk-adjusted returns by investing in quality companies that are currently undervalued. The fund invests primarily in companies, wherever organized, that do business mainly outside the United States. The fund offers dividends quarterly. Capital gains are distributed in December.