The fund invests primarily in common stocks outside of the United States that the investment adviser believes have the potential for growth, many of which have the potential to pay dividends. Under normal market conditions, the fund will invest at least 80 percent of its net assets in equity securities, and at least 80 percent of its net assets outside the United States. The fund therefore expects to be invested in a number of countries outside the United States. The fund may invest up to 10 percent of its net assets in emerging markets. In determining the domicile of an issuer, the funds investment adviser will generally look to the determination of MSCI Inc. (MSCI).