Fund Description

The fund invests primarily in common stocks of established U.S. large-cap companies, generally holding 20 to 30 stocks; large cap is defined as companies with market capitalizations of $15 billion or greater at purchase. The adviser seeks companies it believes offer above-average growth potential at attractive prices, using a top-down analysis of sectors and industries based on the macroeconomic environment, followed by qualitative and quantitative evaluation of opportunities. The strategy may overweight favored sectors versus the benchmark and targets long-term holdings with minimal turnover. It may also invest to a lesser extent in equity REITs, foreign stocks, and ADRs. Under normal circumstances, at least 80% of net assets are invested in equity securities, subject to 60 days' notice for changes.