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 securities of companies of both domestic and international, including emerging, developing or frontier markets.

In selecting securities for the portfolio, the research team focuses on a company’s valuation multiples such as book value, and durability of free cash flow.

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 seeks to achieve broad geographic diversification and typically invests in approximately 15 industries.

In addition, the fund may also invest in publicly traded master limited partnerships.