Fund Description

The fund invests in a diversified portfolio of common stocks of ultra-small companies, normally committing at least 80% of net assets (plus borrowings for investment purposes) to such stocks based on company size at purchase. Ultra-small companies are defined as the smallest 20% of NYSE-listed firms by market capitalization or those within the capitalization range of the CRSP Cap-Based Portfolio 9 or 10 Index. A majority of holdings are listed on Nasdaq. The adviser uses a statistical stock-selection approach and incorporates available ESG information as one consideration. The fund may invest up to 15% of total assets in foreign securities, may hold significant sector positions at times, and may trade actively and frequently.