Fund Description

The fund normally invests at least 80% of its net assets plus borrowings for investment purposes in equity securities of mid-capitalization companies with market capitalizations like those found in the Russell Midcap Index, measured at the time of initial purchase. It may also invest in small-cap securities and foreign (non-U.S.) securities. Using a fundamental value approach, it seeks companies whose future prospects are misunderstood or not fully recognized by the market, supported by disciplined, bottom-up, internally generated research and evaluation of financially material ESG factors. With the exception of diversification guidelines, the fund does not employ predetermined rules for sales; instead, it evaluates each sell candidate based on risk and return characteristics including relative valuation, fundamental operating trends, deterioration of fundamentals, and portfolio diversification. Sector exposure may change over time.