Fund Description

The fund was incepted in December 1997 and is managed by American Skandia Investment Services, Inc. The fund seeks long-term growth of capital by primarily investing at least 80% of its assets in equity securities of issuers that are economically tied to countries other than the United States. The fund pursues its objective primarily through investments in equity securities of issuers located outside the United States. The fund has the flexibility to invest on a worldwide basis in companies and organizations of any size, regardless of country of organization or place of principal business activity. Under normal circumstances, the fund invests primarily in securities of issuers from at least five different countries, excluding the United States. Although the fund intends to invest substantially all of its assets in issuers located outside the United States, it may at times invest in U.S. issuers and it may at times invest all of its assets in fewer than five countries or even a single country. The fund distributes dividends and capital gains annually.