The fund seeks capital appreciation by investing in small-size companies 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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team emphasizes company research and the long-term outlook of companies and industries.

Next, the process includes research trips, company meetings, and relationships with industry thought leaders and academics to evaluate companies.

Additionally, the team assesses a company’s geographic and industry positioning, competitive advantage, management, financial strength and valuation.

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 portfolio holds approximately between 75 and 175 growth companies with the potential to outperform the benchmark over the long term. The fund aims to hold securities for typically 5 years, which results in relatively low portfolio turnover.

In addition, the manager focuses on companies located in countries of developed and emerging markets.

The fund invests in companies located in at least three countries outside the United States.

The fund has the flexibility to participate in initial public offerings.
 

The fund seeks capital appreciation by investing in small-size companies 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.

The research process is driven by fundamental analysis of one stock at a time. When evaluating individual securities, the research team emphasizes company research and the long-term outlook of companies and industries.

Next, the process includes research trips, company meetings, and relationships with industry thought leaders and academics to evaluate companies.

Additionally, the More