p style="word-wrap:break-word; margin:0pt; line-height:9.5pt"span style="font-family:Arial, Helvetica, sans-serif; font-size:9pt; color:#000000"The Fund seeks to meet its objective by investing in a global, diversified portfolio of common stocks and other equity securities of issuers located in countries of developed and emerging markets./span/p p style="word-wrap:break-word; margin:5pt 0pt 0pt; line-height:9.5pt"span style="font-family:Arial, Helvetica, sans-serif; font-size:9pt; color:#000000"Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities. The Fund invests predominantly in a diversified portfolio of securities issued by companies located in countries represented in the MSCI ACWI Index. The Fund invests in a range of companies globally. The Fund ordinarily invests in securities of issuers located in at least three different countries. In addition, under normal circumstances, the Fund invests at least 40% of its total assets in securities of companies located outside the U.S. when market conditions are favorable, but, when market conditions are not favorable, the Fund invests at least 30% of its total assets in companies located outside the U.S. The Fund invests in equity securities either directly or indirectly, such as through depositary receipts, and may invest in preferred stocks, convertible securities, rights and warrants. The Fund does not apply specific constraints with respect to market capitalization and may participate in initial public offerings (/spanspan style="font-family:Arial, Helvetica, sans-serif; font-weight:bold; font-size:9pt; color:#000000"“IPOs”/spanspan style="font-family:Arial, Helvetica, sans-serif; font-size:9pt; color:#000000"). In addition, investment is permitted in securities offerings that are not registered in the U.S./span/p p style="word-wrap:break-word; margin:5pt 0pt 0pt; line-height:9.5pt"span style="font-family:Arial, Helvetica, sans-serif; font-size:9pt; color:#000000"The portfolio managers employ a bottom-up approach to stock selection, seeking to identify companies they believe have attractive long-term growth prospects, and select companies without being constrained by the MSCI ACWI benchmark. The portfolio managers focus on company research and the long-term outlook of companies and industries. Ideas can come from a wide variety of sources, including, but not limited to, research trips, company meetings, and relationships with industry thought leaders and academic institutions. Stock ideas are normally researched to assess a range of factors, including: long-term growth potential, geographic and industry positioning, competitive advantage, management, financial strength and valuation. Under normal circumstances, the intended outcome is a diversified portfolio typically consisting of between 70 and 120 growth companies with the potential to outperform the Fund’s benchmark over the long term. The process can result in significant exposure to a single country or a small number of countries. The Fund aims to hold securities for long periods (typically at least 5 years), which generally results in relatively low portfolio turnover and is in line with the portfolio managers’ long-term investment outlook. When assessing a company’s long-term growth prospects, the portfolio managers seek to identify and to incorporate a range of factors that are material to managing the Fund’s investment risks and maximizing capital appreciation. Such factors potentially include the environmental, social, and/or governance characteristics of the company, such as stewardship, sustainable business practices, and/or corporate culture./span/p p style="word-wrap:break-word; margin:5pt 0pt 0pt; line-height:9.5pt"span style="font-family:Arial, Helvetica, sans-serif; font-size:9pt; color:#000000"The Fund may invest without limitation in securities quoted or denominated in currencies other than the U.S. dollar and may hold such currencies. The Fund does not expect to engage in currency hedging and thus expects to be fully exposed to currency fluctuations relative to the U.S. dollar./span/p