The investment seeks long-term capital growth. Under normal circumstances, the fund invests at least 80% of its net assets (plus the amount of any borrowing for investment purposes), at the time of initial purchase, in emerging market equities, including common stock, preferred stock, convertible securities, depositary receipts and rights and warrants to buy common stocks. It may invest in securities denominated in U.S. dollars and currencies of emerging market countries in which it may invest.