The investment seeks to provide investors with long term capital appreciation. The fund primarily invests in equity securities of micro-cap companies, which the managers define as companies that have a market capitalization (defined as shares outstanding multiplied by the current market price) of $250 million or less at the time of the fund's investment. It invests in securities of issuers, or related investments thereof, located in at least three countries, and at least 40% of the fund's total net assets are invested in securities of non-U.S. issuers or related investments thereof. It is non-diversified.