Under normal market conditions, the fund invests at least 80% of its net assets in foreign (non-U.S.) equity securities. The fund predominantly invests in companies located outside the U.S., including companies located in developing market countries. The fund maintains the flexibility to invest in securities of companies from a variety of countries and sectors, but from time to time, based on economic conditions, the fund may have significant investments in one or more countries or in particular sectors. The fund is non-diversified.