Fund Description

The fund invests primarily in a diversified portfolio of common stocks from non-U.S. companies, considering various factors to define an issuer's status, such as country of domicile and primary stock exchange. It targets non-U.S. markets globally, including emerging markets classified by MSCI, with no geographic limits on investments. Utilizing a value investment philosophy, the fund aims to purchase securities priced significantly below their estimated intrinsic values, focusing on companies with favorable attributes like free cash flows and predictable earnings. The investment strategy relies on in-house research and emphasizes management teams aligned with shareholder interests. Typically, the fund maintains a portfolio of 45 to 65 stocks to reflect its best investment ideas.