Strategy. Under normal market conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of issuers who are economically tied to an emerging market country. The Adviser identifies what it considers to be emerging market countries based upon classifications as defined by Morgan Stanley Capital International (MSCI), the World Bank, the United Nations, and the International Monetary Fund (IMF), or other entities or organizations, as the Adviser may determine from time to time. The Adviser may also consider its own analysis of measures of economic growth, political stability, industrialization and legal and regulatory framework. The Adviser considers emerging market countries to include most Asian, Eastern European, African, Middle Eastern and Latin … Show more… Under normal market conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in equity securities of issuers who are economically tied to an emerging market country. The Adviser identifies what it considers to be emerging market countries based upon classifications as defined by Morgan Stanley Capital International (MSCI), the World Bank, the United Nations, and the International Monetary Fund (IMF), or other entities or organizations, as the Adviser may determine from time to time. The Adviser may also consider its own analysis of measures of economic growth, political stability, industrialization and legal and regulatory framework. The Adviser considers emerging market countries to include most Asian, Eastern European, African, Middle Eastern and Latin American nations, including, but not limited to, China, Hong Kong, India, Indonesia, Korea, Malaysia, Philippines, Taiwan, Thailand, Pakistan, Vietnam, Czech Republic, Poland, Greece, Turkey, Russia, Kuwait, Qatar, Saudi Arabia, United Arab Emirates (UAE), Egypt, South Africa, Kenya, Argentina, Brazil, Chile, Colombia, Mexico and Peru. The Adviser typically considers an issuer to be economically tied to an emerging market country if: (1) the company is organized under the laws of an emerging market country or has its principal office in an emerging market country; (2) at the time of investment, the company derived a significant portion (i.e., 50% or more) of its total revenues during its most recently completed fiscal year from business activities in an emerging market country; or (3) at the time of investment, the companys equity securities are traded principally on stock exchanges or over-the-counter markets in an emerging market country. Under normal circumstances, the Fund will invest in large-, mid- and small- capitalization emerging market country issuers. Although the Adviser expects, under normal market conditions, that the level of the Funds investments in equity securities of issuers who are economically tied to an emerging market country will exceed 80% of the Funds net assets (plus borrowings for investment purposes), the Adviser may invest the balance in exchange-traded funds (ETFs), including long-only ETFs, ETFs that may enter into short sales and inverse ETFs. Through the consistent execution of a fundamental bottom-up investment process that focuses on an analysis of individual companies, the Adviser expects to identify a diversified universe of companies that trade at a discount to their estimated intrinsic, or fair values. This fundamental process seeks to understand a companys business model including its revenue and cost model, the sustainability of its competitive advantages, and the long-term growth opportunity and to understand the companys industry structure and competitive landscape. This process also incorporates a discounted cash flow model, historical valuation analysis, peer group valuation, and, where appropriate, an analysis of a companys strategic value and recent corporate events (e.g., mergers and acquisitions). The Fund may engage in active and frequent trading of its portfolio securities to achieve its investment objective. Show less