Fund Description

The fund invests primarily in common stocks of U.S. companies the adviser believes offer above-average growth potential at attractive prices, selecting stocks based on fundamental outlook rather than company size and holding an all-cap portfolio. It generally holds 25 to 40 common stocks. The process starts with analysis of the economy and macro factors, then evaluates sectors and industries and selects companies using qualitative and quantitative factors. The strategy often overweights favored sectors and industries, which may create significant differences versus its benchmark, and aims to keep portfolio turnover low. It may also invest, to a lesser extent, in equity REITs, foreign common stocks, and ADRs. Under normal circumstances, at least 80% of net assets are invested in equity securities.