Fund Description

The fund uses option-writing strategies to seek option premiums and reduce risk, implementing buy-write (covered call) and/or cash-secured put strategies on U.S. or foreign stock index ETFs, stock indices, and/or individual U.S. or foreign stocks. These strategies aim to reduce volatility and provide more stable returns, but limit participation in market appreciation. Under normal conditions, at least 80% of net assets are subject to secured option strategies, with options covered through ownership, offsetting options, segregated liquid assets, or other permitted methods. It writes options in at least three non-U.S. countries and invests at least 40% of net assets outside the U.S. To the extent the fund's assets are only subject to puts, the assets will consist of cash or cash equivalents to secure the puts, and there may be few if any stocks or other securities held by the fund. It may hold index ETFs instead of individual stocks for index covered calls, invest in a diversified global equity portfolio with risk/return characteristics generally similar to the MSCI ACWI Index (including ADRs), and may also buy call and put options. Security selection uses proprietary multifactor models and fundamental analysis, and it may actively trade.