Fund Description

The fund invests at least 80% of net assets in dividend-paying equity securities, including preferred securities. Under normal market conditions, the minimum portion of the fund's net assets (plus the amount of any borrowings for investment purposes) invested in non-U.S. securities will be 80% of the MSCI World Index's non-U.S. assets, calculated on a daily basis; during periods of unfavorable market conditions, the minimum portion of the fund's net assets invested in non-U.S. securities will be reduced to 50% of the MSCI World Index's non-U.S. assets. It invests in companies from at least three countries, may invest up to 10% in emerging markets, and may invest across small-, mid- and large-cap companies. The sub-adviser uses bottom-up fundamental analysis and evaluates factors including a sound business model, strong overall financial position, earnings growth, return on equity, quality of management, potential for dividend growth, market valuation, commitment to return cash to shareholders, and individual country factors including macroeconomic and political risk factors.