Strategy. The Funds investment team employs a fundamental stock selection process focused on identifying long-term growth opportunities to build a diversified portfolio of non-US growth companies of all market capitalizations. The team seeks to invest in companies within its preferred themes with sustainable growth characteristics at attractive valuations that do not fully reflect their long-term potential. Themes The team identifies long-term secular growth trends with the objective of investing in companies that have meaningful exposure to these trends. The teams fundamental analysis focuses on those industry leaders with attractive growth and valuation characteristics that will be long-term beneficiaries of any structural change and/or trend. Sustainable Growth The team applies a fundamental approach to identifying the long-term, sustainable growth characteristics of potential … Show more… The Funds investment team employs a fundamental stock selection process focused on identifying long-term growth opportunities to build a diversified portfolio of non-US growth companies of all market capitalizations. The team seeks to invest in companies within its preferred themes with sustainable growth characteristics at attractive valuations that do not fully reflect their long-term potential. Themes The team identifies long-term secular growth trends with the objective of investing in companies that have meaningful exposure to these trends. The teams fundamental analysis focuses on those industry leaders with attractive growth and valuation characteristics that will be long-term beneficiaries of any structural change and/or trend. Sustainable Growth The team applies a fundamental approach to identifying the long-term, sustainable growth characteristics of potential investments. The team seeks high-quality companies that typically have a sustainable competitive advantage, a superior business model and a high-quality management team. As part of the investment process, the team considers material environmental, social and governance factors alongside other fundamental research. Valuation The team uses multiple valuation metrics to establish a target price range. The team assesses the relationship between its estimate of a companys sustainable growth prospects and its current valuation. The Fund invests primarily in developed markets but also may invest up to 35% of the Funds total assets at market value at the time of purchase in emerging and less developed markets. Under normal market conditions, the Fund is substantially fully invested in common stocks and similar securities, and invests at least 65% of its net assets at market value at the time of purchase in securities of non-US companies. There are no restrictions on the size of the companies in which the Fund may invest. The Fund may invest to a limited extent in equity-linked securities that provide economic exposure to a security of one or more non-US companies without direct investment in the underlying securities (called participation certificates in the Funds prospectus, but may be called different names by issuers). Show less