The fund seeks current income and capital appreciation in the long term by investing in companies across any size outside the United States.
The fund prefers a multi-manager investing approach with the aim of reducing volatility and downside risk.
The manager may allocate assets to one or more sub-advisers, in addition to open- and closed-end investment companies, ETFs, and individual securities.
Each sub-adviser acts independently from the others and uses its own investment style and process to select securities.
The sub-adviser’s 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 at least 20% (or, if market conditions are unfavorable, at least 10%) of assets in securities of issuers domiciled outside of the United States and may invest up to 100% assets in such securities.
The team has the flexibility to invest across asset classes and geographies on the basis of valuations, fundamental health, and income levels.
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 income-generating equity securities, which may include common stocks, convertible securities, preferred stocks, real estate investment trusts, and master limited partnerships.
Also, the fund may invest in companies of any size from any country, including emerging markets.
The fund also invests in fixed-income securities of varying maturity, duration, and quality.
In addition, the fund may invest without limit in fixed-income securities that are rated below investment grade or, if unrated, to be of comparable quality.
The fund may invest in exchange traded funds, as well as invests in derivatives, including options, futures, swaps, and forward foreign currency contracts.
