Strategy. Normally, the Portfolio invests at least 80% of net assets (plus any borrowings for investment purposes) in equity securities. The Portfolio will normally hold securities of issuers from at least three different countries (not including the U.S.). The Portfolios equity investments may include common stocks, depositary receipts evidencing ownership of common stocks, certain preferred stocks, and securities that carry the right to buy common stocks (e.g., rights and warrants). The Portfolio may purchase securities in any country, including those with developed markets and emerging markets and is not required to allocate its investments in set percentages in particular countries, except that the Portfolios investments in emerging markets countries normally will be limited to 30% of its net assets. From time … Show more… Normally, the Portfolio invests at least 80% of net assets (plus any borrowings for investment purposes) in equity securities. The Portfolio will normally hold securities of issuers from at least three different countries (not including the U.S.). The Portfolios equity investments may include common stocks, depositary receipts evidencing ownership of common stocks, certain preferred stocks, and securities that carry the right to buy common stocks (e.g., rights and warrants). The Portfolio may purchase securities in any country, including those with developed markets and emerging markets and is not required to allocate its investments in set percentages in particular countries, except that the Portfolios investments in emerging markets countries normally will be limited to 30% of its net assets. From time to time, the Portfolio may have significant investments in one or more countries, a geographic region, or in particular sectors. The Portfolio may enter into currency forward contracts in order to hedge direct or indirect foreign currency exposure. The Portfolio typically invests in well-established companies of medium-to-large capitalization based on standards of the applicable market. The Portfolio typically invests in companies that, in the advisers opinion, appear to be temporarily undervalued but have a favorable outlook for long- term growth. The Portfolios adviser also focuses on the underlying financial condition and prospects of individual companies, including future earnings, cash flow, and dividends. Various other factors, including financial strength, economic condition, competitive advantage, quality of the business franchise, financially material environmental, social, and governance (ESG) issues (for example, the management of environmental risk, employee relations, and shareholder rights), along with the reputation, experience, and competence of a companys management are weighed against valuation in selecting individual securities. Consideration of ESG factors may not be determinative in the advisers investment process and the adviser may conclude that other attributes of an investment outweigh ESG considerations when making investment decisions for the Portfolio. The adviser also considers the economic and political stability of the country where the issuer is located and the protections provided to shareholders. The adviser may consider selling an equity security when it believes the security is no longer undervalued, due to either its price appreciation or changes in the companys fundamentals, or when the adviser believes another security provides a more attractive investment opportunity. Show less