Strategy. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities issued by companies throughout the world. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund typically invests in at least five countries, including the U.S., and the amount of the funds assets invested outside the U.S. will vary depending on the advisers outlook for market conditions and opportunities overseas versus those in the U.S. However, the fund typically invests at least 25% of … Show more… The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities issued by companies throughout the world. Any derivatives that provide exposure to the investment focus suggested by the funds name, or to one or more market risk factors associated with the investment focus suggested by the funds name, are counted (as applicable) toward compliance with the funds 80% investment policy. The fund typically invests in at least five countries, including the U.S., and the amount of the funds assets invested outside the U.S. will vary depending on the advisers outlook for market conditions and opportunities overseas versus those in the U.S. However, the fund typically invests at least 25% of its net assets in securities of foreign issuers. The fund invests in companies across a broad range of industries in the U.S. and other developed markets and, to a lesser extent, emerging markets. Although the fund may invest in companies of any size, investments will generally be made in stocks of large- and mid-cap companies. While the adviser invests with an awareness of the global economic landscape and the advisers outlook for certain industries and countries, the advisers stock selection is driven mainly by fundamental research focused on individual companies. The funds value approach relies on a global research team that searches for companies that appear to be undervalued by various measures and may be temporarily out of favor but have good prospects for long-term capital appreciation or dividend growth. In selecting investments, the adviser generally favors companies with one or more of the following characteristics: ? low valuation on various earnings, book value, sales, and cash flow metrics, in absolute terms and/or relative to the companys peers or its own historical norm; ? low valuation relative to a companys fundamentals; ? companies that may benefit from restructuring activity or other turnaround opportunities; ? a sound balance sheet and other positive financial characteristics; and ? above-average dividend yield and/or the potential to grow dividends. At times, the fund may have a significant portion of its assets invested in the same economic sector. Show less