Fund Description

The fund invests at least 80% of net assets in equity securities of companies with significant non-U.S. assets or sales, or that are organized or principally based outside the United States. It diversifies across industries, companies, and countries, mainly in mature markets such as Europe and Japan, and may invest in emerging markets. Using fundamental research, it looks for companies with growing revenues and earnings that trade below the adviser's intrinsic value estimate, often with low P/E, low price-to-cash-flow, and higher dividend yields, emphasizing larger, seasoned companies, principally over $1 billion in market cap. The adviser seeks issuers with sustainable characteristics, using proprietary and third-party data to consider financial and non-financial characteristics, including environment, social responsibility, and corporate governance policies and other sustainability practices such as carbon emissions, water usage, renewable energy, and fair labor and supply chain practices, and generally screens out alcohol, tobacco, pornography, weapons, gambling, and fossil-fuel extraction, production, or refining.