The investment seeks long-term capital appreciation.
The fund invests principally in common and preferred stocks of foreign companies. These companies generally have market capitalizations (market value of publicly traded securities) greater than $1 billion. It invests at least 80% of its net assets (plus any borrowings for investment purposes) measured at the time of purchase in equity securities of issuers located in at least three countries outside the United States. Up to 30% of the fund's total assets, measured at the time of purchase, may be invested in securities of companies located in countries with emerging securities markets.