Strategy. The Adviser and the Funds Sub-Adviser, Morgan Stanley Investment Management Company (MSIM Company), seek to achieve the Funds investment objective, under normal circumstances, by investing at least 80% of the Funds net assets (plus any borrowings for investment purposes) in equity securities of issuers located in emerging market countries excluding China and Hong Kong. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Advisers and/or Sub-Advisers investment approach combines top-down country and thematic allocation with bottom-up stock selection. The Adviser and/or Sub-Adviser allocate the Funds assets among emerging markets based on relative economic, political and social fundamentals, stock valuations and investor sentiment. To seek to manage … Show more… The Adviser and the Funds Sub-Adviser, Morgan Stanley Investment Management Company (MSIM Company), seek to achieve the Funds investment objective, under normal circumstances, by investing at least 80% of the Funds net assets (plus any borrowings for investment purposes) in equity securities of issuers located in emerging market countries excluding China and Hong Kong. This policy may be changed without shareholder approval; however, you would be notified upon 60 days notice in writing of any changes. The Advisers and/or Sub-Advisers investment approach combines top-down country and thematic allocation with bottom-up stock selection. The Adviser and/or Sub-Adviser allocate the Funds assets among emerging markets based on relative economic, political and social fundamentals, stock valuations and investor sentiment. To seek to manage risk, the Adviser and/or Sub-Adviser emphasize macroeconomic and fundamental research. The Adviser and/or Sub-Adviser generally consider selling an investment when they determine the company no longer satisfies their investment criteria. The investment process integrates information about environmental, social and governance issues (also referred to as ESG) when making investment decisions. ?The Adviser and/or Sub-Adviser believe that monitoring ESG ?helps build a more complete picture of the quality of company management, and the opportunities and risks facing companies. The Adviser and/or Sub-Adviser seek to engage directly with company management to gain insights on how each company addresses material ESG issues and how these may affect long-term financial performance. The Fund may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to seek to earn income. Derivatives are financial instruments whose value is based on the value of an underlying asset, interest rate, index or financial instrument. The Funds use of derivatives may involve the purchase and sale of derivative instruments such as futures and other related instruments and techniques. The Fund may utilize foreign currency forward exchange contracts, which are also derivatives, in connection with its investments in foreign securities. Derivative instruments used by the Fund will be counted toward the Funds 80% policy discussed above to the extent they have economic characteristics similar to the securities included within that policy. Show less