The fund seeks income and 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.

Then the investment team focuses on companies located in Europe or the Pacific Rim.

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The fund seeks income and 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.

Then the investment team focuses on companies located in Europe or the Pacific Rim.

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 or has its principal office in a country that is part of Europe or the Pacific Rim.

Also, the team considers a company to be located in Europe or the Pacific Rim if 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.

In addition, the team looks for companies that are traded principally on stock exchanges or over the-counter markets in Europe or the Pacific Rim.

Next, the research team focuses on value oriented and dividend-paying companies that are estimated to trade below their fair values.

The team seeks to identify countries, and industries within those countries that are best positioned to perform relative to other countries and industries.

In making this determination, the team takes into account factors such as expectations for change in valuation of foreign currency, changes in world demand for products or services, diversification of foreign trade practices, policy changes of the foreign government.

Other fundamental factors the team emphasizes are interest rates, inflation and GDP growth.

When selecting individual companies, the research team focuses on factors such as dividend yield, valuation versus growth, capital structure, quality of management, corporate governance practices, liquidity, strengths and opportunities compared to the peer group, and business specific risk.

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 fund will invest primarily in non-U.S. companies, or may invest in companies in developed and emerging markets.

However, the fund may focus its investments in one or more sectors.

Also, the fund may invest in companies engaged in the gold industry, or consider companies with minimal revenue exposure to the U.S. markets.

The fund may also invest in American and Global Depository Receipts, including unsponsored ADRs.