Fund Description

The fund, under normal circumstances, invests at least 80% of its assets, including borrowings for investment purposes, in value securities, defined as out-of-favor (undervalued) securities based on the sub-adviser's quantitative methodology. It invests primarily in equity securities of companies in non-U.S. developed and emerging market countries, mainly common stocks but also ADRs and GDRs. It generally invests in companies with market capitalizations of $20 million or more at purchase. Stock selection is driven by a quantitative model using buy/sell signals, ranking securities on value measures and near-term appreciation indicators, subject to risk controls.