Fund Description

The fund invests at least 80% of its assets in equity securities of small-cap companies, defined as those with market capitalizations within the Russell 2000 Index universe at the time of purchase. Assets include net assets plus borrowings for investment purposes. It may use derivatives, primarily futures contracts, to gain targeted equity exposure from cash positions. The adviser uses a fundamental, bottom-up process seeking attractively valued companies with leading competitive positions, predictable and durable business models, and management with a track record of prudent capital allocation, while assessing ESG factors for financially material risks and opportunities. Securities may be sold if fundamentals change, valuation becomes less attractive, or better opportunities are identified.