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 invests in securities of issuers engaged primarily in health care-related industries, More

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 invests in securities of issuers engaged primarily in health care-related industries, and in derivatives and other instruments that have economic characteristics similar to such securities.

The team considers an issuer to be engaged in health care-related industries, if it derives50% or more of its gross income or its net sales from activities in the healthcare industry, or it devotes 50% or more of its assets to producing revenues from the health care industry.

Also, the team considers companies whose primary business is within the health care industry.

Issuers engaged in healthcare-related industries include those that design, manufacture, or sell products or services used for or in connection with health care or medicine.

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 companies exhibiting attractive growth prospects relative to their current valuations.

Additionally, the team seeks to identify companies whose future growth prospects are not yet recognized by investors.

In analyzing specific industries, the team emphasizes companies with above-average growth and demand; below-average reimbursement risk; and high barriers to entry.

However, in analyzing specific issuers, the team looks for leading issuers with defensible franchises, niche-oriented products and/or services, potential to expand margins and improve profitability, superior earnings-per-share growth, balance sheet strength, and a capable management team.

Also, the team prefers companies that are trading at attractive valuations relative to valuation multiples.

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 may invest up to 20% of its net assets in securities of issuers located in emerging markets countries, i.e., those that are generally in the early stages of their industrial cycles.