Fund Description

The fund invests primarily in equity securities, typically common stock, of small-cap companies tied economically to emerging market countries, investing at least 80% of net assets (plus borrowings for investment purposes) in such securities under normal market conditions. Small-cap is defined at purchase as market capitalization below the larger of $3 billion or the largest company in the MSCI Emerging Markets Small Cap Index. Qualifying companies are listed in, have at least 50% of assets in, or derive at least 50% of revenues or profits from emerging markets. It uses quantitative screening and bottom-up fundamental analysis, including company visits and senior management meetings, and does not use allocation models. The fund may invest a large percentage of its assets (greater than 5%) in a particular region or market, including Asia, India, Taiwan, and China, and may invest a large percentage of its assets (greater than 5%) in a few sectors, including information technology, industrials, financials, consumer discretionary, consumer staples, health care, and communication services.