The investment seeks long-term capital appreciation.
The fund pursues a momentum investment style by investing primarily in equity or equity-related securities of non-U.S. companies that the Adviser determines to have positive momentum. The Adviser considers a security to have positive momentum primarily if it has a return over the prior twelve months that ranks in the top third of its relevant universe at the time of purchase. The fund invests significantly in common stocks. It may also invest in or use financial futures contracts, forward foreign currency contracts and other types of equity-linked derivative instruments.