Strategy. The Fund invests mainly in common stocks of U.S. and foreign companies. The Fund can invest without limit in foreign securities in any country, including countries with developed or emerging markets (i.e., those that are generally in the early stages of their industrial cycles). Typically, the Fund will invest a substantial portion of its assets in issuers in a number of different foreign countries, in addition to the United States. The Fund does not limit its investments to companies in a particular capitalization range or region. However, the Fund currently emphasizes its investments in the United States and other developed markets. Under normal market conditions, the Fund will typically hold between 35 and 55 stocks. The Fund may purchase American … Show more… The Fund invests mainly in common stocks of U.S. and foreign companies. The Fund can invest without limit in foreign securities in any country, including countries with developed or emerging markets (i.e., those that are generally in the early stages of their industrial cycles). Typically, the Fund will invest a substantial portion of its assets in issuers in a number of different foreign countries, in addition to the United States. The Fund does not limit its investments to companies in a particular capitalization range or region. However, the Fund currently emphasizes its investments in the United States and other developed markets. Under normal market conditions, the Fund will typically hold between 35 and 55 stocks. The Fund may purchase American Depositary Shares (ADS) as part of American Depositary Receipt (ADR) issuances, which are negotiable certificates issued by a U.S. bank representing a specified number of shares in a foreign stock traded on a U.S. exchange. In selecting investments for the Funds portfolio, the portfolio manager looks primarily for companies they believe are undervalued (i.e., there is a substantial difference between the current market price of the company and what the portfolio manager believes the company to be worth). A security may be undervalued because the market is not fully pricing an issuers current intrinsic value, the market does not properly assess the companys assets, the market does not yet recognize its future potential, or the issuer may be temporarily out of favor. The Fund seeks to realize gains in the prices of those securities if and when other investors recognize their real or prospective worth. While the Fund primarily invests in stocks of companies the portfolio manager has determined to be undervalued, over time this may result in the Funds portfolio having exposure to stocks with the characteristics of both value and growth stocks. Growth companies are companies whose earnings and stock prices are expected to increase at a faster rate than the overall market. The Fund can invest in derivative instruments. The Fund may use derivatives to seek to increase its investment return or for hedging purposes. The Fund is not required to use derivatives in seeking its investment objective or for hedging and might not do so. Show less