Morgan Stanley Capital International All Countries World Index, ex. U.S. Investment Structure Assets are allocated among 3 managers utilizing a range of techniques to evaluate, select and allocate among non-U.S. equity markets and securities. Primary investment decision is over- or underweighting markets and currencies relative to the market benchmark. Construct a portfolio of companies with attractive future prospects and valuations. Country and currency allocations are generally a result of individual company selections, with risk control techniques applies to limit deviations from the market benchmark allocations.
Analyses incorporate global and local political, economic and industry factors.
Equity security prices may rise or fall due to changing economic, political and market conditions, or individual company factors. Changes in currency exchange rates will affect the value of investments for U.S. dollar-based investors. The future value of an investment in the International Blended Equity Fund may be lower than the initial capital invested. While the Fund seeks to diversify through selection of different investment management techniques, it is possible that the overall Fund may trail the market benchmark. Macroeconomic country and currency judgments are incorporated into individual company analyses.