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 companies that exhibit growth characteristics.

The research process is driven by More

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 companies that exhibit growth characteristics.

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 a company’s financial statements and management structure.

Additionally, the team considers a company’s operations, business strategy, product development and industry position.

Also, the team prefers companies with a superior competitive position and high demand for their products or services, as well as accelerating earnings growth and cash flow.

The team also considers the effect of worldwide trends on the growth of particular business sectors and looks for companies that may benefit from those trends.

The trends currently considered include mass affluence, new technologies, restructuring and aging.

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 aims for diversity among companies, industries and countries to help reduce the risks of foreign investing, such as currency fluctuations and stock market volatility.

The fund may invest 100% of its net assets in securities of foreign companies, and looks to invest the majority of its net assets in stocks of issuers in at least three different countries.

Also, the fund may invest in emerging markets as well as in developed markets throughout the world.

From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia or Europe.