The fund seeks capital appreciation in the long term 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 U.S. and foreign equity securities.

The team seeks to generate above average compounded returns by selecting securities in companies and industries where capital spending is declining.

Also, the team seeks to avoid companies, assets, and business models that can be easily replicated.

In addition, the team focuses on companies with scarce, high-quality infrastructure assets, typically in utilities and telecommunications that are viewed as irreplaceable and therefore have enduring value.

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 typically invests across a range of sectors, and a mix of developed and emerging markets stocks.

The fund holds 25% or more of its net assets in securities of issuers whose principal business activities are in the precious metals and mining industry.

The fund seeks capital appreciation in the long term 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 U.S. and foreign equity securities.

The team seeks to generate above average compounded returns by selecting securities in companies and industries where capital spending is declining.

Also, the team seeks to avoid companies, assets, and business models that can be easily More