The fund typically invests in a focused portfolio of common stocks of small and mid-cap companies and, under normal circumstances, it invests at least 80% of its net assets in securities of global issuers that are small or mid-cap companies. Under normal market conditions, the fund will invest in at least three different countries and will typically invest at least 40% of its net assets in non-U.S. equity securities, or, if conditions are not favorable, invest at least 25% of its assets in non-U.S. equity securities. It is non-diversified.