Fund Description

The fund invests primarily in equity securities of small- to medium-sized companies located in foreign developed countries. Under normal market conditions, it invests at least 80% of its net assets in companies considered small to medium-sized, defined as those with a market capitalization not greater than that of the largest company in the MSCI EAFE SMID Cap Index. The portfolio managers seek stocks they believe will increase in value over time, basing decisions primarily on analysis of individual companies rather than broad economic forecasts. Under normal market conditions, the portfolio managers seek securities of companies whose earnings, revenues or key business fundamentals are not only growing, but growing at an accelerating pace. The fund may trade actively and frequently, which may cause higher transaction costs and may result in the realization and distribution of capital gains.