Strategy. The Fund operates as a feeder fund and seeks to achieve its goal by investing all of its assets in Class 1 shares of the Master Fund. The Master Fund seeks to make your investment grow over time by investing primarily in common stocks of companies outside the United States, including in emerging markets, that the investment adviser of the Master Fund believes have the potential for growth. The Master Fund may also invest in securities of foreign issuers in the form of depositary receipts or other instruments by which the Master Fund may obtain exposure to equity investments in local markets. Although the Master Fund focuses on investments in medium to larger capitalization companies, the Master Funds investments are … Show more… The Fund operates as a feeder fund and seeks to achieve its goal by investing all of its assets in Class 1 shares of the Master Fund. The Master Fund seeks to make your investment grow over time by investing primarily in common stocks of companies outside the United States, including in emerging markets, that the investment adviser of the Master Fund believes have the potential for growth. The Master Fund may also invest in securities of foreign issuers in the form of depositary receipts or other instruments by which the Master Fund may obtain exposure to equity investments in local markets. Although the Master Fund focuses on investments in medium to larger capitalization companies, the Master Funds investments are not limited to a particular capitalization size. The Master Fund uses a system of multiple portfolio managers in managing the Master Funds assets. Under this approach, the portfolio of the Master Fund is divided into segments managed by individual managers. The Master Fund relies on the professional judgment of its investment adviser to make decisions about the Master Funds portfolio investments. The basic investment philosophy of the Master Funds investment adviser is to seek to invest in attractively valued companies that, in its opinion, represent good, long-term investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities. Show less