TEMR is actively managed and invests in emerging market equity securities, including common stocks and depositary receipts such as ADRs and GDRs. It uses a bottom-up stock selection approach that considers global economic conditions, industry outlooks, and country-specific factors. Investments are diversified across countries, spanning various industries and company sizes. Country allocation is driven by stock selection, with limits on exposure to markets or industries with less favorable prospects. The portfolio construction process aims to align the fund with the MSCI Emerging Markets Index, seeking to achieve returns above the index by overweighting stocks viewed positively and underweighting those viewed negatively. Sector weightings generally reflect the index, though individual holdings may differ significantly. A portfolio oversight team manages the funds structure and assigns equity analysts with industry expertise to select stocks.