Fund Description

The fund invests primarily in equity securities of companies with principal business activities in Western Europe, investing at least 80% of assets in equities of European issuers under normal conditions. It may hold common and preferred stock, convertibles, trust or partnership interests, depositary receipts, and warrants and rights, and may use exchange-traded futures to manage cash flows. It may invest across numerous Western European countries and up to 8% in emerging market European issuers, and may shift among countries, sectors, security types, and currencies. It may also invest in investment-grade debt, subject to limits that no more than 20% of assets will be invested in debt securities denominated in a currency other than the U.S. dollar and no more than 20% of assets will be invested in debt securities issued by a single foreign government or international organization, and may trade actively with high turnover.