Strategy. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks issued by companies in emerging markets. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security and whether the country is considered an emerging market. The fund considers frontier markets to be a subset of emerging markets and any investments in frontier markets are counted toward the funds 80% investment policy. 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, … Show more… The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in stocks issued by companies in emerging markets. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security and whether the country is considered an emerging market. The fund considers frontier markets to be a subset of emerging markets and any investments in frontier markets are counted toward the funds 80% investment policy. 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 expects to primarily invest in common stocks of companies located (or with primary operations) in emerging markets (which may include frontier markets) in Asia, Latin America, Europe, Africa, and the Middle East. The countries in which the fund normally invests include, but are not limited to, the following: ? Asia: China, India, Indonesia, Malaysia, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam. ? Latin America: Argentina, Belize, Brazil, Chile, Colombia, Mexico, Panama, Peru, and Venezuela. ? Europe: Croatia, Czech Republic, Estonia, Greece, Hungary, Kazakhstan, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Turkiye, and Ukraine. ? Africa and the Middle East: Bahrain, Botswana, Egypt, Jordan, Kenya, Kuwait, Lebanon, Mauritius, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa, Tunisia, United Arab Emirates, and Zimbabwe. The fund may invest in companies of any size, but generally seeks stocks of large-cap companies that are undervalued in the view of the portfolio manager. While the adviser invests with an awareness of the global economic backdrop and the advisers outlook for certain industries, sectors, and individual countries, the advisers decision-making process focuses on bottom-up stock selection. Stock selection is driven mainly by fundamental research focused on individual companies. Additionally, the fund employs a value-oriented approach to stock selection by seeking to invest in companies whose stock prices are low in relation to the value of their assets or future prospects. 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. Country allocation is driven largely by stock selection, though the adviser may limit investments in markets or industries that appear to have poor overall prospects. The fund may, at times, invest significantly in Asia and specifically, China. At times, the fund may have a significant portion of its assets invested in the same economic sector, such as the financial sector. Show less