The fund seeks primarily capital appreciation and secondarily income 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 securities of European companies that are trading at a discount to their estimated intrinsic value.
The team also considers investing in merger arbitrage securities and the debt and equity of distressed companies.
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 securities from at least five different countries, although, from time to time, it may invest all of its assets in a single country.
Additionally, the fund may invest in securities of issuers from emerging markets.
Also, the fund has the flexibility to invest up to 20% of its net assets in securities of U.S. issuers and in securities of issuers from the Middle East and the remaining regions of the world.