PNC International Equity Fund seeks to provide long-term capital appreciation. The fund aims to achieve this objective by primarily investing in equity securities that are economically tied to a number of countries throughout the world. The Fund uses a multifaceted approach of blending value and growth portfolios. We believe:
- Utilizing a dual-manager approach is the optimum way to build a diversified international portfolio.
- Our approach gives us the ability to perform in various market cycles, freedom to find best investments worldwide, and is positioned to potentially add the benefit of diversification across all market environments.
As a result we:
- Capture value and growth styles with specialized teams
- Invest in large-, mid-, and small-cap names within a broad market
- Include developed and developing markets within the portfolio

Investment Risk
International investments are subject to special risks not ordinarily associated with domestic investments, including currency fluctuations, economic and political change and differing accounting standards that may adversely affect portfolio securities. These risks may be heightened in emerging markets. Investments in value companies can continue to be undervalued for long periods of time and be more volatile than the stock market in general. Investments in growth companies can be more sensitive to the company's earnings and more volatile than the stock market in general. Investments in small and mid capitalization companies present a greater risk of loss than investments in large companies. The Fund may invest a portion of its assets in derivatives. Derivative instruments include options, futures and options on futures. A small investment in derivatives could have a potentially large impact on the Fund' performance. The Fund may be unable to terminate or sell a derivatives position. Derivative counterparties may suffer financial difficulties and may not fulfill their contractual obligations.