Strategy. Under normal circumstances, at least 80% of the Funds net assets (plus the amount of any borrowings for investment purposes) are invested in securities of companies economically tied to emerging market countries at the time of investment. A company is generally regarded as being economically tied to an emerging market country if it: is primarily listed on the trading market of an emerging market country; is headquartered in an emerging market country; is domiciled in an emerging market country; or derives 50% or more of its revenue from, or has 50% or more of its assets in, an emerging market country. An emerging market country is one that: has an emerging stock market as defined by the International Finance Corporation; … Show more… Under normal circumstances, at least 80% of the Funds net assets (plus the amount of any borrowings for investment purposes) are invested in securities of companies economically tied to emerging market countries at the time of investment. A company is generally regarded as being economically tied to an emerging market country if it: is primarily listed on the trading market of an emerging market country; is headquartered in an emerging market country; is domiciled in an emerging market country; or derives 50% or more of its revenue from, or has 50% or more of its assets in, an emerging market country. An emerging market country is one that: has an emerging stock market as defined by the International Finance Corporation; has a low- to middle-income economy according to the World Bank; is included in the IFC Investable Index or the Morgan Stanley Capital International Emerging Markets Index; or has a per-capita gross national product of $10,000 or less. The Funds investment sub-advisor, Continuous Capital, LLC (Sub-Advisor), seeks to achieve the Funds investment objective by applying a fundamental research philosophy and approach to identify companies that trade at attractive valuations and are of high quality. When selecting stocks for the Fund, the Sub-Advisor considers characteristics, such as: price-to-earnings ratio share price relative to earnings-per-share, enterprise value-to-EBITDA (earnings before interest, taxes, depreciation and amortization) ratio a companys enterprise value relative to its earnings before interest, tax, depreciation and amortization, dividend yield ratio of dividends-per-share to the stock price, dividend growth the year over year change in dividends per share, return on invested capital ratio of a companys earnings to its equity and debt, and return on equity ratio of a companys earnings to its equity. The Sub-Advisor also utilizes a combination of qualitative and fundamental research considerations to select securities for the Fund. These considerations include evaluating the efficacy of company managements historical capital allocation, dividend, and share repurchase policies. The Sub-Advisor seeks to diversify investments across industries and countries. Although the Fund seeks diversification across sectors and industries, from time to time, based on portfolio positioning, the Fund may have significant positions (e.g., 25% or more of the Funds net assets) in particular sectors, including the Information Technology sector. However, as the sector composition of the Funds portfolio changes over time, the Funds exposure to a sector may be lower at a future date, and the Funds exposure to other market sectors may be higher. The Fund may, at times, invest significantly in Chinese companies listed on mainland China and Hong Kong exchanges, and in companies located in other countries in the Pacific Basin region listed on foreign exchanges, as well as through ADRs and GDRs. However, as the country allocation of the Funds portfolio changes over time, the Funds exposure to Chinese and other Pacific Basin companies may be lower at a future date, and the Funds exposure to other countries and geographic regions may be higher. The Fund may invest in companies of all market capitalizations. The Funds equity investments may include common stocks, depositary receipts including both American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), U.S. dollar-denominated foreign stocks traded on U.S. exchanges, and real estate investment trusts (REITs). The Fund may have exposure to foreign currencies by making direct investments in non-U.S. currencies, engaging in foreign currency transactions on a spot (cash) basis, or investing in securities denominated in non-U.S. currencies. The Fund may also invest cash balances in other investment companies, including government money market funds, and exchange-traded funds (ETFs). In pursuing its investment strategies, the Fund typically engages in active trading strategies that result in high portfolio turnover. The Fund may seek to earn additional income by lending its securities to certain qualified broker-dealers and institutions. Show less