These days, a company’s location is much less relevant than where it sells its goods and services. Instead of focusing on the best stocks in each country, we look for the best stocks regardless of country. That helps lead us to the best 50 or 60 investment ideas throughout the globe—investments we believe should form the core of a well-diversified portfolio.

Global equities offer far more geographic diversification and potential risk mitigation. Confining a portfolio to U.S.-based companies may cause investors to miss out on many of the world’s great opportunities.

Analyzing global structural, economic and demographic trends gives us key insights into what’s going on in the world and what industries are most likely to benefit. From there, we use fundamental research to identify the most promising companies in each industry.

This approach to global value investing allows us to move beyond rigid style boxes. We focus on absolute value, not relative value. We believe the value of a company should be based on its own unique cash-oriented metrics, not on how those metrics compare to other companies.

Portfolio Manager Randy Dishmon explains his investment philosophy, and the Four Questions every stock must pass before being included in the Fund.