| Investment Objective: |
Under normal market conditions, the fund will invest at least 80% of its assets in equity securities of companies related to emerging market countries. However, the fund generally intends to focus its investments in a subset of the emerging markets countries that comprise the MSCI Emerging Markets Value IMI Index. In determining which of the countries to invest in, the portfolio managers consider the costs and benefits of investing in a particular country, including the size of the market and liquidity. To determine whether a company is related to an emerging market country, the portfolio managers will consider various factors, including where the company is headquartered, where the company s principal operations are located, where a majority of the company s revenues are derived, where the principal trading market is located, the country in which the company was legally organized, and whether the company is in the fund s benchmark the MSCI Emerging Markets Value IMI Index. The fund may invest in securities that are denominated in foreign currencies and may also invest in foreign securities that are represented in the U.S. and other securities markets by American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs), and other similar depositary arrangements. |
