Fund Description

The fund normally invests at least 80% of its net assets, plus any borrowings for investment purposes, in stocks, counting certain derivatives toward this policy. It typically invests in at least five countries, including the U.S., and generally holds at least 25% of net assets in securities of foreign issuers, with non-U.S. exposure varying based on the adviser's outlook. It seeks broad diversification across industries in developed and, to a lesser extent, emerging markets, generally emphasizing large- and mid-cap stocks. The approach uses bottom-up, growth-oriented stock selection based on fundamental research to find high-quality companies with above-average long-term earnings growth, purchased at reasonable valuations. Sector exposure may be significant at times.