Fund Description

Under normal market conditions, the fund invests at least 80% of net assets in securities of companies located or operating in developing market countries, and at least 80% in equity securities of companies in emerging market countries; frontier markets count toward this policy. It invests predominantly in developing-market equities, principally common and preferred stocks, across market caps, and may use ADRs, GDRs and EDRs. It may have significant exposure to specific markets or sectors and may invest up to 20% in developed markets, including via China VIEs. It is non-diversified and typically holds 50-90 issuers. The manager applies a fundamental, research-driven, long-term approach and incorporates ESG factors throughout the investment process, including security selection and portfolio construction, and applies specific ESG exclusions; in certain circumstances, not every investment is assessed for ESG factors and not every ESG factor may be identified or evaluated.