The fund seeks capital growth and appreciation by investing in large-size 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 focuses on securities traded largely in developed European and Asian/Pacific Basin markets.
The team looks to invest in mispriced countries, sectors, currencies, and stocks with attractive valuations.
In addition, the team favors cash-generating and reasonably valued companies that are exposed to global investment themes.
As part of its top-down global macro view, the team evaluates developments in global gross domestic product, business and product cycles, foreign exchange, relative valuations and politics around the world.
The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team evaluates individual companies based on various factors, such as free cash flow, sales growth, financial leverage, and return on invested capital.
To enhance potential return, the fund may invest in issuers located or doing business in emerging market countries.
The fund also may invest in depositary receipts of foreign issuers.
Generally, the fund invests in securities of large-capitalization companies, however it may invest in securities issued by companies of any size.
Also, the fund may invest up to 100% of its total assets in foreign securities.