The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.
The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.
Next, the research team will invest in instruments of companies located in a number of different countries throughout the world, one of which will be the United States.
The team will invest at least 40% of the fund’s net assets in non-U.S. companies.
The team reviews companies on the basis of value, momentum, and other factors.
Value strategies identify companies that appear cheap based on fundamental measures.
Momentum strategies favor securities with measures of superior recent performance.
In addition, quality strategies favor stable companies in good business health, including those with superior profitability and stable earnings.
Sentiment strategies prefer companies with management teams that are aligned with shareholders’ interests.
Additionally, the fund may enter into both long and short positions in equities and currencies using derivative instruments.
Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.
The manager will allocate the fund’s net assets among various regions and countries, including the United States (but in no less than three different countries outside of the U.S.)
The fund may lend its portfolio securities to certain types of eligible borrowers.