Strategy. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in common stocks and securities convertible into common stocks (collectively, stocks) of issuers based in at least three different countries located outside the United States. The Fund considers a company to be based in a country located outside the United States if the company is classified by ?MSCI Inc. as a non-United States company. For companies that have not been classified by MSCI Inc., the sub-advisors may consider a company to be based outside the United States if: the companys security is primarily listed for trading in a non-United States market; ? the company is headquartered in a … Show more… Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in common stocks and securities convertible into common stocks (collectively, stocks) of issuers based in at least three different countries located outside the United States. The Fund considers a company to be based in a country located outside the United States if the company is classified by ?MSCI Inc. as a non-United States company. For companies that have not been classified by MSCI Inc., the sub-advisors may consider a company to be based outside the United States if: the companys security is primarily listed for trading in a non-United States market; ? the company is headquartered in a non-United States country; or ? the company has at least half of its assets or derives at least half of its revenues outside the United States. The Fund primarily invests in countries represented in the MSCI EAFE Index. The MSCI EAFE Index is designed to represent the performance of large- and mid-capitalization securities across 21 developed markets countries, including countries in Europe, Australasia and the Far East, and excluding the U.S. and Canada. It covers approximately 85% of the free float-adjusted market capitalization in each country. Companies included in the MSCI EAFE Index are selected from among the larger capitalization companies in these markets. The Fund may use foreign currency futures contracts, foreign currency forward contracts, including non-deliverable forward contracts (NDFs), and currency swaps as a hedge against foreign currency fluctuations. The Fund principally invests in large-capitalization and mid-capitalization companies, and to a lesser extent in small-capitalization companies. The Funds investments in stocks may include depositary receipts, which may include American depositary receipts (ADRs), and U.S. dollar-denominated foreign stocks traded on U.S. exchanges. The Manager allocates the assets of the Fund among different sub-advisors. The Manager believes that this strategy may help the Fund outperform other investment styles over the longer term while reducing volatility and downside risk. The sub-advisors select stocks that, in their opinion, have most or all of the following characteristics (relative to that stocks country, sector or industry): above-average return on equity or earnings growth potential, ? below-average price to earnings or price to cash flow ratio, ? below-average price to book value ratio, and above-average dividend yields. ? The sub-advisors may consider potential changes in currency exchange rates when choosing stocks. Each of the sub-advisors determines the earnings growth prospects of companies based upon a combination of internal and external research using fundamental analysis and considering changing economic trends. The decision to sell a stock is typically based on the belief that the company is no longer considered undervalued or shows deteriorating fundamentals, or that better investment opportunities exist in other stocks. The Fund may have significant exposure to issuers located in, or with economic ties to, Europe and the United Kingdom. However, as the geographic composition of the Funds portfolio changes over time, the Funds exposure to Europe and/or the United Kingdom may decline, and the Funds exposure to other geographic areas may increase. The Fund may invest cash balances in a government money market fund advised by the Manager, with respect to which the Manager receives a management fee. The Fund also may purchase and sell equity index futures contracts to gain market exposure on cash balances or reduce market exposure in anticipation of liquidity needs. The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions. Show less