The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The sub-advisers’ 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 companies that are located in, or that have economic t More

The fund seeks capital appreciation in the long term by investing in companies across any size outside the United States.

The sub-advisers’ 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 companies that are located in, or that have economic ties to, Asia (excluding Japan).

The fund normally invests in Asian countries such as China, Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, South Korea, Taiwan, and Thailand.

Other Asian countries in which the fund invests include Pakistan, Sri Lanka, and Vietnam.

In addition, the team prefers high-quality companies that demonstrate the ability to compound earnings and sustain superior cash flows over time.

Also, the team favors companies that are trading at reasonable prices in relation to present or anticipated earnings, cash flow, or book value.

The research process is driven by fundamental analysis of one stock at a time. In selecting securities for the portfolio, the research team selects stocks that have the most favorable combination of company fundamentals, earnings potential, and relative valuation.

Additionally, the team favors well-established companies with leading market positions, attractive business niche, competitive advantages in an attractive industry, and proven management teams.

The team seeks companies that demonstrate the ability to consistently increase revenues, earnings, and/or cash flows with prudent capital allocation and balance sheet management.

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 invests with an awareness of the outlook for certain industries, sectors, and individual countries within the region.

However, country allocation is driven largely by stock selection.

The fund may at times invest significantly in certain sectors, such as the financials sector.

Also, the fund is non-diversified meaning it may invest a greater portion of assets in a single company.

The fund has the flexibility to invest across all market capitalizations, but typically focuses its investments on large-and mid-cap stocks.