Virtus KAR International Small-Mid Cap Fund Class I 

Typically, this fund commits at least 80% of its total assets to equity instruments issued by smaller and mid-sized companies located beyond U.S. borders. The investment advisor's strategy is to spread its holdings across various international markets, with the portfolio usually featuring business operations from numerous countries. The types of equities it may acquire include common shares, preferred shares, and American Depositary Receipts (ADRs). It operates as a non-diversified fund.