Under normal circumstances, the Adviser will invest at least 80% of the Fund’s net assets (plus borrowings for investment purposes) in the equity securities of non-U.S. companies of any size. The Adviser focuses on companies that it believes are capable of long-term wealth generation through capital and dividend growth. For the purpose of the primary investment policy, equity securities may include common stock, preferred stock, securities convertible into common stock, and sponsored American Depositary Receipts (“ADRs”).

The Fund may invest in securities of companies in both developing and emerging markets. Emerging and developing market countries are low- or middle-income countries, and may be found in such regions as Asia, Latin America, Eastern Europe, the Middle East and Africa. The location of companies in which the Fund invests will be determined by a company’s country of incorporation, the location of the exchange on which the company is principally traded, or the location from which the company derives the majority of its revenues.

The Adviser will perform fundamental research to construct a portfolio consisting of approximately 30 to 60 companies that offer a combination of high and growing cash flows. The Adviser places an emphasis on future income streams, as opposed to current payout ratios.

The Fund is a diversified fund.