Seeking substantial long-term capital appreciation, this fund predominantly allocates its investments to equity securities. These include common stocks, preferred stocks, and convertible securities, all issued by companies based in developed nations globally, with a specific exclusion of the United States. The fund manager typically selects holdings from businesses located in at least ten different non-U.S. countries, while rigorously limiting U.S. company investments to under 10% of its total assets. The investment strategy is designed to capitalize on future economic expansion in both established international markets and developing emerging economies.