The fund seeks capital appreciation in the long term by investing in mid-and large-size companies outside the United States.
The fund manages assets through two sub-advisers, Wellington Management Company LLP and Thompson, Siegel & Walmsley, LLC.
The sub-advisers each are responsible for a portion of the portfolio, although they may manage different amounts of the fund’s net assets.
The sub-advisers’ 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.
Wellington Management focuses on high quality, reasonably-valued companies that have demonstrated the willingness to return value to shareholders.
TSW considers established companies in individual foreign markets that are estimated to trade below their fair values.
Next, the research team focuses on foreign companies, and may invest in emerging markets as well as in developed markets throughout the world
The team favors companies that are estimated to trade below their fair values with good prospects for growth.
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 may at times have significant exposure to one or more industries or sectors, and may hold a portion of its assets in cash or cash equivalents.
From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe, or Latin America.
Additionally, the fund may invest in real estate investment trusts and exchange-traded funds.