The investment seeks long-term capital appreciation. Under normal circumstances, the fund will invest at least 65% of its total assets in the equity securities of companies based in at least three different countries located outside the United States, which may include developed and emerging market countries. It may invest principally in equity securities of value companies, which may include common stock, convertible securities, depositary receipts and U.S. dollar-denominated foreign stocks traded on U.S. exchanges, and preferred stock, although the fund also may invest in growth companies.