The fund seeks to generate capital appreciation. It dedicates at least 80% of its net assets, which includes any borrowed funds, to a portfolio of equity securities from companies situated in the Asia Pacific region. These investments primarily consist of common stocks, depositary receipts, and common and preferred shares of real estate investment trusts (REITs). Furthermore, the fund employs forward foreign currency exchange contracts and spot currency transactions to mitigate its exposure to the various Asian Pacific currencies in which these underlying equity holdings are denominated.