The investment seeks long-term capital appreciation.
The fund invests primarily in established and emerging franchise companies on an international basis, with capitalization within the range of companies included in the Morgan Stanley Capital International ("MSCI") All Country World Ex-United States Index. It invests primarily in securities of companies located in Europe, Japan, Asia, the Pacific Basin, Latin America, the Middle East and Africa. The fund may also invest in securities of companies located in the United States to a limited extent. It may utilize foreign currency forward exchange contracts.