| Nasdaq: TBCUX
The Global Value Fund II — Currency Unhedged invests primarily in undervalued equity securities of foreign issuers, but also invests on a more limited basis in U.S. equity securities when opportunities appear attractive. Investments by the Global Value Fund II are focused for the most part in developed countries with some exposure to emerging markets. The Global Value Fund II is diversified by issuer, industry and country, and maintains investments in a minimum of five countries. Contrary to our other international mutual fund, the Global Value Fund, the Global Value Fund II — Currency Unhedged does not seek to reduce currency risk by hedging its effective foreign currency exposure back into the U.S. dollar and will be exposed to currency fluctuations.