Strategy. Under normal market conditions, the Adviser seeks to achieve the Funds investment objective by investing primarily in equity securities of issuers located or operating in developing or emerging market countries, with capitalizations within the range of companies included in the MSCI Emerging Markets Net Index. For purposes of this prospectus, developing markets, developing market countries, emerging markets and emerging market countries and similar terms are used interchangeably but refer to the same underlying markets and countries. The Adviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In ?selecting securities for investment, the Adviser seeks high quality companies within developing markets that the Adviser believes are ?undervalued at the time of purchase. Fundamental research drives … Show more… Under normal market conditions, the Adviser seeks to achieve the Funds investment objective by investing primarily in equity securities of issuers located or operating in developing or emerging market countries, with capitalizations within the range of companies included in the MSCI Emerging Markets Net Index. For purposes of this prospectus, developing markets, developing market countries, emerging markets and emerging market countries and similar terms are used interchangeably but refer to the same underlying markets and countries. The Adviser emphasizes a bottom-up stock selection process, seeking attractive investments on an individual company basis. In ?selecting securities for investment, the Adviser seeks high quality companies within developing markets that the Adviser believes are ?undervalued at the time of purchase. Fundamental research drives the investment process. The Adviser typically favors companies it believes have sustainable competitive advantages that ?can be monetized through growth. The investment process integrates analysis of sustainability with respect to disruptive change, financial strength, environmental and social externalities and governance (also referred to as ESG). The Adviser typically focuses a significant portion of the Funds investments in a limited number of issuers, which may be in the same industry, sector or geographic region. The Adviser generally considers selling a portfolio holding when it determines that the holding no longer satisfies its investment criteria. ? ? The Adviser views incorporating ESG-related potential risks and opportunities within the investment process as important to ensure long-term stewardship of capital. Over extended time horizons, the Adviser believes that ESG risks are more likely to materialize and externalities not borne by the company are more likely to be priced into the value of securities. Since ESG risks could potentially impact the risk and reward profile of investment opportunities, the Adviser typically engages company management in constructive discussions on a range of ESG issues the Adviser deems materially important. The Fund may also invest in privately placed and restricted securities. Under normal market conditions, at least 80% of the Funds assets will be invested in equity securities of issuers located or operating in developing markets. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. ? For purposes of the Funds 80% policy, developing market countries will include frontier emerging market countries. The term frontier emerging markets refers to those emerging market countries outside the mainstream emerging markets, whose capital markets have traditionally been difficult for foreign investors to enter or are in early stages of capital market and/or economic development. The countries that comprise frontier emerging markets may change from time to time. For purposes of maintaining exposure of at least 80% of the Funds assets to equity securities of issuers located or operating in developing markets, the Fund may ?also invest in ?American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) and other types of depositary receipts with respect to issuers located or operating in developing markets. ?The Fund may invest in China A-Shares (shares of publicly traded companies based in mainland China) listed and traded on the Shanghai Stock Exchange through the Shanghai-Hong Kong Stock Connect program, as well as China A-Shares listed and traded on the Shenzhen-Hong Kong Stock Connect program (collectively, Stock Connect). Show less