Investment Objective:The Fund seeks to provide investment results approximating the aggregate price and dividend performance of the securities included in the MSCI EAFE Index.
Investment Strategy:Under normal market conditions, the Fund will invest substantially all (at least 80%) of its total assets in equity securities included in the MSCI EAFE Index in weightings that approximate the relative composition of the securities contained in the MSCI EAFE Index. The Fund is passively managed, which means it will buy and hold securities until changes are made in the holdings of the MSCI EAFE Index.
Investment Suitability:This Fund may be suitable to investors who seek higher, long-term rates of return, can accept significant short-term fluctuations in account value and want to diversify their portfolio with international stocks.
The Fund invests in foreign and emerging market securities which involves certain risks such as currency volatility, political and social instability and reduced market liquidity. To the extent that the investment advisor misjudges current market conditions, the Fund's volatility may be amplified by its use of short sales and derivatives, and by its ability to select sub-advisers to allocate assets. Short sales by a fund theoretically involve unlimited loss potential since the market price of securities sold short may continuously increase. Leverage may increase the risk of loss and cause fluctuations in the market value of the fund's portfolio to have disproportionately large effects or cause the NAV of the Fund generally to decline faster than it would otherwise.