Fund Description

The fund, under normal circumstances, invests at least 80% of the value of its net assets plus borrowings for investment purposes in equity securities. It invests principally in globally diversified equity securities, including common and preferred stocks, of companies economically tied to countries worldwide (including the U.S.), and in depositary receipts, with some holdings denominated in foreign currencies and typically held outside the U.S. It may invest in emerging markets. The fund invests principally in large and medium capitalization companies, which it defines as those represented by the MSCI World Index or with market capitalization within the capitalization range of the MSCI World Index, but may also invest in small capitalization companies. It may employ long-short strategies and use derivatives, including futures and forward currency contracts, for market exposure or currency hedging/speculation, and may invest in synthetic foreign equity securities, equity linked notes, and REITs. It uses a multi-style, multi-manager approach and may change asset allocation at any time.