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 foreign companies that are estimated to trade below their fair values exhibiting attractive long term growth prospects.
The team believes the security may be undervalued for temporary reasons and whose future earnings power is not yet recognized by the market.
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.
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 can invest in any country, including developed or emerging market countries, i.e., those that are generally in the early stages of their industrial cycles.
From time to time, the fund may place greater emphasis on investing in one or more particular regions such as Asia, Europe or Latin America.
Additionally, the fund has the flexibility to invest up to 10% of its net assets in the securities of U.S. issuers.
The fund will invest in stocks of issuers in at least five different countries outside the United States and may invest 100% of its assets in foreign companies.