Seeks capital appreciation through investment in small-cap growth companies globally. The Emerging Growth Fund invests in both U.S. and non-U.S. companies. The non-U.S. companies in which the Emerging Growth Fund invests may be securities of companies in developed or developing (or emerging) markets.
The Emerging Growth Fund invests, under normal circumstances, at least 80% of its net assets in the securities of relatively small companies, which, at the time of investment, have a market capitalization of less than or equal to $1.5 billion or are within the range of companies represented in the MSCI ACWI Small-Cap Index, whichever is greater, at the time of purchase. We anticipate that approximately 60% of the Fund’s assets will be invested in emerging companies outside the United States.
These fast-growing companies, which are typically in the rapid expansion phase of their lifecycle, are expected to offer exceptional growth potential. In essence, they represent a compilation of some of our best ideas across the firm.