Fund Description

Incepted in July 1990, the fund is managed by Elisa Mazen. The fund seeks long-term capital appreciation. The fund invests mainly in common stocks, or securities with characteristics of common stock, of issuers that the portfolio manager believes are undervalued in the marketplace. Under normal market conditions, the fund invests primarily in the common stocks of companies that are domiciled outside the U.S. or have their primary operations outside of the U.S. The fund is not required to invest a set percentage of its assets in any one country or region. The fund does not seek current income as part of its objective and may hold debt securities for their appreciation possibilities. The fund distributes dividends and capital gains annually.