The fund seeks capital appreciation in the long term by investing in mid-and large-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.

Next, the research team focuses on companies located in both developed and emerging market countries outside the U.S.

According to the investment team, an issuer is considered to be located outside the U.S. if at least 50% of its revenues or profits are from business activities located outside the U.S., or at least 50% of its assets are located outside the U.S., or the principal trading market for its securities is located outside the U.S.

The team emphasizes companies that are estimated to trade below their fair values and whose future growth potential is not reflected in their current valuations.

In selecting securities for the portfolio, the research team focuses on companies showing potential for significant business improvement with financial strength and sufficient liquidity.

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 may also use various types of derivative instruments (primarily futures contracts) to gain or hedge exposure to certain types of securities.

However, the fund's net assets are invested in securities of foreign (non-U.S.) companies representing at least three different countries.

Also, at times a significant amount of the fund's net assets may be invested in a single country or region.

The fund also may invest to a lesser extent in debt securities and may invest in securities of companies located in the U.S.

The fund seeks capital appreciation in the long term by investing in mid-and large-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.

Next, the research team focuses on companies located in both developed and emerging market countries outside the U.S.

According to the investment team, an issuer is considered to be located outside the U.S. if at least 50% of its revenues or profits are from business activities located More