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.

The opportunistic process seeks to capitalize on underlying regional macro trends and global macrodynamics.

Next, the research team focuses on companies operating principally in emerging market countries.

The team considers a company to be operating principally in an emerging market if its securities are primarily listed on the trading market of an emerging market country, or the company is incorporated or has its principal business activities in an emerging market country.

Also, the team considers the company that derives 50% or more of its revenues from, or has 50% or more of its assets in, an emerging market country, or its securities are included in the MSCI Emerging Markets Index.

In selecting securities for the portfolio, the research team focuses on well-managed companies with consumer driven demand exhibiting above average revenue and earnings growth potential, having a unique or improving market position and competitive advantages.

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 may invest in a variety of countries, industries and sectors and does not attempt to invest a specific percentage of its assets in any given country, industry or sector.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Asia.

Also, the fund may invest a large percentage of its assets in just a few sectors, just a few regions or just a few emerging market countries, such as China and India.

Additionally, the fund is non-diversified which means that it may invest a greater amount of its net assets in the securities of a single issuer or a small number of issuers than a diversified fund.

The fund may invest up to 20% of its net assets in cash or its investment equivalent.

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 a portfolio of global equities.

Generally, the team invests at least 40% of the fund’s net assets in companies that maintain their principal place of business or conduct their principal business activities outside the U.S.

The team also considers companies that have their securities traded on non-U.S. exchanges or that have securities that trade in the form of depositary receipts, or companies that have been formed under the laws of non-U.S. countries.

The investment team considers a company to conduct its principal business activities outside the U.S. if it derives at least 50% of its revenue or profits from business outside the U.S. or has at least 50% of its sales or assets outside of the U.S.

However, if market conditions are not deemed favorable, the team may limit the fund’s investments outside the U.S. to 30% of its net assets.

The team favors companies with growth potential that are trading at attractive valuations.

In addition, the team also looks for companies that have a durable competitive advantage in an industry with high barriers to entry.

Also, the team prefers companies having superior management teams with sound corporate governance, a track record of durable profit margins, and balance sheet strength with low leverage.

The research process is driven by fundamental analysis of one stock at a time.

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 focused portfolio generally holds 15 to 30 select companies.

From time to time, the fund may focus its foreign investments in Europe.

The fund is non-diversified which means that it may invest a greater amount of its assets in the securities of a single issuer or a small number of issuers than a diversified fund.

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 focuses on international securities with growth potential that are trading at attractive valuations.

The team also looks for companies that have a durable competitive advantage in an industry with high barriers to entry.

Other attributes that the team considers are companies in an attractive industry with pricing power, organic growth and limited cyclicality.

Also, the team favors companies with superior management teams having a track record of stable profit margins, balance sheet strength, and that are trading at a discount to their estimated intrinsic value.

However, 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 microeconomic factors.

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 manager invests in companies located in at least three countries other than the United States, including emerging market countries.

Generally, the portfolio holds stocks from 25 to 45 companies.

From time to time, the fund may focus its investments in certain countries or geographic areas, including Europe.

Additionally, the fund is non-diversified, which means that it can invest a greater percentage of its assets in the securities of fewer issuers than can a diversified fund.

The fund seeks capital appreciation in the long term by investing in small-and mid-size companies in 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 growth-oriented companies exhibiting long-term capital appreciation potential and that are estimated to grow faster than the U.S. economy.

In selecting securities for the portfolio, the research team combines top-down secular/macro-economic trend analysis with bottom- up security selection.

The top-down approach takes into consideration factors such as interest rates, inflation, fiscal and monetary policy, global demographic trends, and the regulatory environment.

The research process is driven by fundamental analysis of one stock at a time. The team prefers companies that are exhibiting earnings growth potential.

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 may also invest in emerging growth companies, as well as also invest in exchange-traded funds.

Additionally, the fund may invest up to 15% of its net assets in common stocks of foreign small- and mid-cap companies through the purchase of American Depository Receipts and/or foreign domiciled companies listed on U.S. stock exchanges.