The fund seeks primarily income and secondarily to maximize capital appreciation 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.

The strategy invests in securities of dividend paying companies located in Europe or the Pacific More

The fund seeks primarily income and secondarily to maximize capital appreciation 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.

The strategy invests in securities of dividend paying companies located in Europe or the Pacific Rim.

The investment team considers a country to be part of Europe if it is included in one of the MSCI European indexes and part of the Pacific Rim if any of its borders touches the Pacific Ocean.

The team considers a company to be located in Europe or the Pacific Rim if the company is organized under the laws of a country that is part of Europe or the Pacific Rim or has its principal office in a country that is part of Europe or the Pacific Rim, or at the time of investment, the company derived a significant portion of its total revenues during its most recent completed fiscal year from business activities in Europe or the Pacific Rim, or the company’s equity securities are traded principally on stock exchanges or over-the-counter markets in Europe or the Pacific Rim.

Next, the research team emphasizes companies that are trading below their intrinsic value and will pay sustainably high dividends that grow over time.

In selecting securities for the portfolio, the team evaluates a company’s free cash flow and earnings yield and growth, operating leverage and balance sheet strength, as well as management quality and corporate governance.

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 also selects companies with business exposure or assets in countries or sectors that it believes will benefit from a long-term, positive trend.

Additionally, the fund may invest in companies in developed and emerging markets.

The fund may invest in companies across all market capitalizations but may invest a majority of its net assets in mid-and large-size companies.

In addition, the fund will invest primarily in non-U.S. companies.

Also, the fund may invest in American and Global Depository Receipts, exchange-traded funds and real estate investment trusts.