Strategy. The fund primarily invests in securities of issuers that are leaders in innovation and are distinguished by their development of advanced technologies, products, and business models, or issuers that are poised to benefit from innovations in other sectors. The fund combines top-down evaluation of innovative growth trends with fundamental, bottom-up analysis that seeks to identify high-quality companies with the most compelling investment opportunities. In identifying leaders in innovation, the fund considers factors such as long-term earnings growth potential, research and development expenditure, pricing power, and technological advantage. Additionally, the adviser generally favors companies with characteristics such as an attractive industry position, a compelling business model, strong management, and reasonable stock price valuation. The funds sector allocations may vary over time … Show more… The fund primarily invests in securities of issuers that are leaders in innovation and are distinguished by their development of advanced technologies, products, and business models, or issuers that are poised to benefit from innovations in other sectors. The fund combines top-down evaluation of innovative growth trends with fundamental, bottom-up analysis that seeks to identify high-quality companies with the most compelling investment opportunities. In identifying leaders in innovation, the fund considers factors such as long-term earnings growth potential, research and development expenditure, pricing power, and technological advantage. Additionally, the adviser generally favors companies with characteristics such as an attractive industry position, a compelling business model, strong management, and reasonable stock price valuation. The funds sector allocations may vary over time as innovation evolves across market sectors and within individual companies. The fund may also adjust allocations as necessary to manage the fund's overall level of risk and exposure to risk factors. At times, the fund may have a significant portion of its assets invested in the same economic sector, such as technology and healthcare. While the fund can invest in companies of any size, the majority of fund assets are expected to be invested in large- and mid-cap companies. The majority of the funds assets will be invested in common stock. The fund may also invest in depositary receipts including American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs). The fund primarily invests in securities of companies in global, developed markets. Global developed markets include the United States, Australia, Canada, Israel, Japan, New Zealand, Singapore, the United Kingdom, most of the countries of Western Europe, and Hong Kong. The fund may also invest in emerging markets. The fund relies on MSCI Inc., a third-party provider of benchmark indexes and data services, or another unaffiliated data provider to determine the country assigned to a security. The fund is nondiversified, which means it may invest a greater percentage of its assets in a particular issuer than is permissible for a diversified fund. Show less