Ordinarily, this fund commits a minimum of 80% of its total assets, which includes any funds borrowed for investment purposes, to equity securities. These primarily consist of common and preferred stocks issued by companies located in emerging market countries. The portfolio has the flexibility to spread its investments across various emerging market nations. The Subadvisor specifically defines emerging market countries as any country other than Canada, Luxembourg, the United States, and those that comprise the MSCI EAFE Index.