Fund Goal and Approach
The fund seeks long-term growth of capital. To pursue its goal, the fund normally invests at least 80% of its net assets, in equity securities of companies located, organized, or with a majority of assets or business in emerging market countries, including underlying funds that invest in such securities. The fund uses a 'manager of managers' approach by selecting one or more investment managers to serve as subadvisers to the fund. The fund also uses a 'fund of funds' approach by investing in one or more underlying funds.
Emerging Market Risk: Emerging markets tend to be more volatile than the markets of more mature economies, and generally have less diverse and less mature economic structures and less stable political systems than those of developed countries. The fund's concentration in securities of companies in emerging markets could cause the fund's performance to be more volatile than that of more geographically diversified funds.
Equity Risk: Equity funds are subject generally to market, market sector, market liquidity, issuer and investment style risks, among other factors, to varying degrees, all of which are more fully described in the fund's prospectus.
Foreign Investment Risk: To the extent the fund invests in foreign securities, its performance will be influenced by political, social and economic factors affecting investments in foreign companies. These special risks include exposure to currency fluctuations, less liquidity, less developed or less efficient trading markets, lack of comprehensive company information, political instability, and differing auditing and legal standards.
Investors should consider the investment objectives, risks, charges, and expenses of the fund carefully before investing. Download a prospectus, or a summary prospectus, if available, that contains this and other information about the fund, and read it carefully before investing.