Strategy. Under normal circumstances, the Portfolio invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in equity securities, including common stock, preferred stock, convertible securities, American Depository Receipts (?ADRs?) and Global Depository Receipts (?GDRs?). This policy may be changed only after providing shareholders with 60 days? written notice. The Portfolio invests in the common stock of domestic, foreign and emerging market companies of any market capitalization. The Portfolio intends to emphasize investments in mid-cap and lower large-cap, quality growth companies, with a focus on investments in or related to the consumer, financial, healthcare, industrial and technology, media and telecom sectors. However, the Portfolio is not restricted and may invest in companies with any … Show more… Under normal circumstances, the Portfolio invests at least 80% of its assets (defined as net assets plus any borrowing for investment purposes) in equity securities, including common stock, preferred stock, convertible securities, American Depository Receipts (?ADRs?) and Global Depository Receipts (?GDRs?). This policy may be changed only after providing shareholders with 60 days? written notice. The Portfolio invests in the common stock of domestic, foreign and emerging market companies of any market capitalization. The Portfolio intends to emphasize investments in mid-cap and lower large-cap, quality growth companies, with a focus on investments in or related to the consumer, financial, healthcare, industrial and technology, media and telecom sectors. However, the Portfolio is not restricted and may invest in companies with any market capitalization and in any industry and does not intend to concentrate its investments in any industry. The Portfolio considers emerging market equity issuers to be those located in countries represented in the MSCI Emerging Markets Index. The Portfolio intends to focus its investments (i.e., invest a significant majority of its assets) in developed markets (e.g., United States, Canada, U.K. Europe, Japan and Asia). Under normal circumstances, the Portfolio invests its assets in equity securities in accordance with the following ranges: Domestic 40-100% Foreign 0-70% Emerging Markets 0-10% The Portfolio may experience near-term volatility in its pursuit of long-term results. For risk management, hedging and speculative purposes, the Portfolio will use foreign currency spot transactions and forwards, and call and put options on common stocks. The Portfolio may write or sell call options on common stocks it owns (?covered calls?). Investments in derivatives may be applied toward meeting a requirement to invest in a particular kind of investment if the derivatives have economic characteristics similar to that investment. In making investments on behalf of the Portfolio, the Portfolio?s investment adviser, Bain Capital Public Equity, LP (the ?Adviser?) focuses on the following types of investment opportunities: ? Long-Term Compounders: Companies that the Adviser believes are proven industry leaders, led by strong management teams who have created a defensible business model with sustainable pricing power. ? Dislocated Value: Opportunistic situations where the Adviser believes the underlying business or asset might be trading below its true value. ? Constructive Value-Add: Situations where the Adviser may proactively work as thought partner with management teams and/or the board of directors to drive change. The Adviser?s investment process involves in-depth strategic and financial analysis, with an emphasis on the analysis of industry dynamics, competitive position and management capability and identification of operational improvements to determine the ?intrinsic value? of potential investments. The Portfolio typically makes investments in stocks and at prices that the Adviser believes in its sole discretion to be below their intrinsic value based on a company?s normalized cash flow, growth potential and/or asset value. The Portfolio is allocated to long positions in stocks that the Adviser?s analysis suggests are significantly undervalued in the marketplace. The Portfolio is ?non-diversified? for purposes of the Investment Company Act of 1940, as amended (the ?1940 Act?), which means that the Portfolio may invest in fewer securities at any one time than a diversified fund. For temporary defensive purposes during unusual economic or market conditions or for liquidity purposes, the Portfolio may hold up to 100% of its assets in cash, money market instruments, repurchase agreements and other short-term obligations. When the Portfolio engages in such activities, it may not achieve its investment objective. Show less