The fund's primary objective is to outperform the total return of the U.S. dollar-hedged Morgan Stanley Capital International Europe, Australasia and Far East ("EAFE") Index. Under typical market conditions, it achieves this by allocating capital to international equity derivatives, a strategy underpinned by a portfolio of fixed income instruments. These "fixed income instruments" broadly encompass bonds, other debt obligations, and comparable securities issued by a variety of governmental and corporate entities, both within the U.S. and abroad.
