The fund invests, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities and depositary receipts of foreign issuers of all capitalization sizes, including small and mid-capitalization issuers. The principal types of equity securities in which the fund invests are common and preferred stock. The fund may also invest in emerging markets countries up to 10% more than the amount of exposure to emerging markets countries in the MSCI ACWI ex USA Index. It is non-diversified.