The fund seeks capital appreciation in the long term 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.

Next, the research team invests in securities of companies that have a life science orientation.

The team focuses o More

The fund seeks capital appreciation in the long term 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.

Next, the research team invests in securities of companies that have a life science orientation.

The team focuses on companies engaged in research, development, production, or distribution of products or services related to health and personal care, medicine, or pharmaceuticals.

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 a company’s growth potential, management strength, durable competitive advantages, returns on investment capital, and cash flow generation.

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 invests in securities of U.S. and foreign companies exhibiting growth potential.

Also, the fund invests in issuers from several different countries, which may include the United States.

A security is deemed to be economically tied to a country or countries if the company is organized in, or its primary business office or principal trading market of its equity are located in, the country.

Also, a security is deemed to be economically tied to a country or countries if a majority of the company’s revenues are derived from one or more countries or a majority of the company’s assets are located in one or more countries.

The fund invests at least 25% of its net assets in securities of companies in industry groups such as pharmaceutical; biotechnology; health care services; and medical devices.

The fund may have exposure to emerging markets, and may invest in shares of companies through initial public offerings.

Additionally, the fund may lend portfolio securities on a short-term or long-term basis, in an amount equal to up to one-third of its net assets.