Strategy. The Fund seeks to achieve its investment objective through a fully managed investment policy utilizing global equity securities. For purposes of the Funds investment policies, equity securities include common stock, preferred stock, warrants, depositary receipts, and securities and other instruments whose price is linked to the value of common stock. The combination of equity securities will be varied from time to time both with respect to types of securities and markets in response to changing market and economic trends. The Fund may also purchase convertible securities. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity and equity-related securities. This policy is a non-fundamental policy of the Fund and … Show more… The Fund seeks to achieve its investment objective through a fully managed investment policy utilizing global equity securities. For purposes of the Funds investment policies, equity securities include common stock, preferred stock, warrants, depositary receipts, and securities and other instruments whose price is linked to the value of common stock. The combination of equity securities will be varied from time to time both with respect to types of securities and markets in response to changing market and economic trends. The Fund may also purchase convertible securities. Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity and equity-related securities. This policy is a non-fundamental policy of the Fund and may not be changed without 60 days prior notice to the Funds shareholders. Investments in derivatives are counted toward the Funds 80% policy to the extent that they provide investment exposure to the securities included within that policy or to one or more market risk factors associated with such securities. The Fund seeks to achieve its investment objective by investing in equity securities of corporate issuers (which may include corporations, partnerships, trusts or other corporate-like entities) located around the world. The Fund has no geographic limits on where its investments may be located. This flexibility allows Fund management to look for investments in markets around the world that it believes will provide the best relative returns to meet the Funds investment objective. The Fund may invest in the securities of companies of any market capitalization. The Fund may also invest in the securities of emerging growth companies. The Fund is actively managed using an unconstrained investment style (i.e., it will not take a benchmark index into account when selecting the Funds investments). Fund management, in its sole discretion, may invest in securities that are not included in the MSCI World Index. The Funds portfolio holdings are expected to deviate materially from the MSCI World Index. The Fund may have exposure to a limited number of different investments, countries and/or sectors. The Fund may use derivatives, including options, futures, swaps and forward contracts both to seek to increase the return of the Fund and to hedge (or protect) the value of its assets against adverse movements in currency exchange rates, interest rates and movements in the securities markets. In order to effectively manage cash flows into or out of the Fund, the Fund may buy and sell financial futures contracts or options on such contracts. Derivatives are financial instruments whose value is derived from another security, a commodity (such as oil or gas), a currency or an index. The Fund may invest a portion of its assets in securities directly or indirectly secured by real estate or interests therein or issued by companies that invest in real estate or interests therein such as stock, bonds or convertible bonds issued by real estate investment trusts (REITs). The Fund may invest in both developed and emerging markets. In addition to investing in foreign securities, the Fund may manage its exposure to foreign currencies through the use of forward currency contracts and other currency derivatives. However, foreign exchange risk is not expected to be systematically hedged. From time to time, the Fund may own foreign cash equivalents or foreign bank deposits as part of the Funds investment strategy. The Fund may also invest in non-U.S. currencies. The Fund may invest in indexed and inverse securities. The Fund is classified as non-diversified under the Investment Company Act of 1940, as amended (the Investment Company Act), which means that it can invest more of its assets in fewer issuers than a diversified company. Show less