Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a diversified portfolio of equity securities (the "80% Policy"). It invests primarily in companies domiciled in developed markets outside of the United States, including securities trading in the form of depositary receipts. The fund invests primarily in common stocks issued by companies domiciled in countries represented in the MSCI Europe, Australasia, Far East ("MSCI EAFE") Index.