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 a select few global public equities.

In selecting securities for the portfolio, the team travels globally to learn about a company’s customers, appraise its competitors, meet its managers, visit its facilities, and survey its operations in action.

The team relies on four core criteria such as Circle of Competence, Business, People, and Price when evaluating investment opportunities.

In the Circle of Competence sleeve, the team looks to understand the core economics of a business and reliably predict its financial prospects.

As part of the Business sleeve, the team evaluates whether a business has durable competitive advantages that produce predictable free cash flows and yield attractive returns on equity over an extended period of time.

In the People sleeve, the team focuses on trustworthiness and intellectual honesty of management teams.

Finally in the Price sleeve, the team focuses on companies that are trading at significant discounts to their estimated intrinsic value.

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 holds securities of both U.S. and foreign issuers without regard to industry/sector.

Also, the fund may invest up to 100% of its net assets in foreign securities with up to 60% of those from emerging markets.

The fund may also hold up to 60% of its net assets in foreign debt.