Investment Objective

The primary objective of the strategy is to provide long-term capital appreciation and to reduce portfolio volatility, by investing directly and indirectly primarily in global equity securities of high-quality companies.

Investment Strategy

We primarily use a fundamental bottom-up approach to security analysis. The strategy maintains a global equity focus and invests primarily in securities of mid- to large-size companies that have a track record of sustained earnings growth. The strategy also invests in sector and market exchange traded funds. The strategy seeks to manage the downside risks of the equity securities in which the strategy invests through the use of derivatives including, without limitation, buying or selling a combination of put and/or call options. The strategy employs this strategy to reduce exposure to market declines, while recognizing that the strategy may not fully benefit from strong equity market growth. The strategy is diversified by sector, normally holding between 20 and 40 issuers. The strategy is diversified globally but maintains a U.S. equity bias, targeting a minimum 50% allocation to U.S. equities. The strategy will use derivatives to hedge against potential loss. The strategy will also use derivatives for non-hedging purposes, including put and/or call options, futures, forward contracts and swaps, in order to gain exposure to certain securities without investing directly in such securities, to reduce the impact of currency fluctuations on the strategy or to provide protection for the strategy’s portfolio.

Related Strategies

Prospectus Series I
Prospectus Series F
Prospectus Series W