The fund seeks capital appreciation 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 U.S. and foreign companies.
In selecting securities for the portfolio, the research team focuses on companies that are estimated to trade below their fair values.
The team also favors companies that are lagging in market price for temporary reasons and whose future earnings power is not reflected in their current valuations.
In addition, the team prefers value and growth companies.
Growth companies are companies whose earnings and stock prices are estimated to increase at a faster rate than the overall market.
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 typically holds between 35 and 55 stocks.
The fund can invest without limit in foreign securities in any country, including countries with developed or emerging markets.
Typically, the fund will invest a substantial portion of its net assets in issuers in a number of different foreign countries.