SunAmerica International Equity Fund gets new name, strategy

By Toni Weeks

San Diego, March 7 - The board of trustees of the SunAmerica International Equity Fund approved on March 7 a change to the fund's name and its investment goal, strategy and investment techniques.

According to a 497 filing with the Securities and Exchange Commission, the changes will take effect on or about June 15.

The fund's new name will be the SunAmerica International Dividend Strategy Fund.

The fund will no longer pursue an investment goal of capital appreciation but will pursue a goal of total return, which includes both capital appreciation and current income. To attain its goals, the fund will utilize value investing, which involves investing in securities believed to be undervalued, and international investing, which involves investing primarily in non-U.S. issuers located in a number of non-U.S. countries.

The fund will also employ a "buy and hold" strategy with about 100 high-dividend-yielding equity securities selected annually from the Morgan Stanley Capital International All Country World ex-U.S. Index. The fund said it will invest at least 80% of its net assets, plus any borrowings for investment purposes, in dividend-yielding equity securities.

The funds' subadviser, PineBridge Investments LLC, will be replaced by Jersey City, N.J.-based SunAmerica Asset Management Corp., the investment adviser.

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