International Strategy & Investment

ISI consists of two parts: ISI Group Inc., a broker-dealer, and ISI Inc., a registered investment advisor. ISI is engaged in investment research, sales, trading, portfolio management, support and operations with offices in New York, Washington DC, and Beijing. ISI Group is headed by Ed Hyman and Nancy Lazar who spearhead our economic research efforts, while ISI Inc., which is an investment advisory service, is headed by Al Medaugh and Jim Moltz, who manage U.S. fixed-income, global bond and equity-oriented funds. Their management draws on ISI's research to anticipate interest rate changes, and we actively manage our clients' portfolios to benefit from these changes. ISI currently has 109 employees.

ISI Group now has four #1 Ranked Analysts by Institutional Investor Magazine and the firm comes in first for Institutional Invenstor's 2008 All-American Research Team Marco Category. The #1 rankings by Analysts are in the areas of Economics, Portfolio Strategy, Washington Research, and Technical Analysis.

A prospectus for any of the ISI Funds can be obtained from your investment professional. You should read the prospectus carefully before investing as it contains complete information on the Fund's investment objective(s), the risks associated with an investment in the Fund, the fees, charges, and expenses involved. These elements, as well as other information contained in the prospectus, should be considered carefully before investing.