The fund seeks capital appreciation in the long term by investing in companies 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 invests in global equity securities of issuers located in at least six different countries.

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The fund seeks capital appreciation in the long term by investing in companies 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 invests in global equity securities of issuers located in at least six different countries.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team focuses on company research and the long-term outlook of companies and industries.

In addition, the process includes research trips, company meetings, and relationships with industry thought leaders and academic institutions.

Other factors in consideration when assessing companies include long-term growth potential, geographic and industry positioning, competitive advantage, management, financial strength and valuation.

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 portfolio holds securities of between 30 and 60 growth companies.

Additionally, the fund aims to hold securities for long periods, typically 5 to 10 years.

In addition, the fund will invest at least 40% of its net assets in securities of companies located outside the U.S. when market conditions are favorable.

However, when market conditions are not favorable, the fund will invest at least 30% of its net assets in companies located outside the U.S.

Also, the fund may invest in issuers located in emerging markets.

The fund estimates to have considerable exposure to Chinese companies including through China A shares.

The fund is a non-diversified fund, which means that it may invest a relatively large percentage of its assets in a small number of issuers, industries or sectors.

Additionally, the fund may participate in initial public offerings and in securities offerings that are not registered in the U.S.

The fund may invest without limitation in securities quoted or denominated in currencies other than the U.S. dollar and may hold such currencies.